PORTLAND, Ore. ( KOIN ) — Two Oregon businessmen have been accused of cheating real estate investors and commercial lenders out of more than $18 million.
On Tuesday, 54-year-old Sherwood resident Robert Christensen and 55-year-old Damascus resident Anthony Matic were indicted with 21 federal charges including conspiracy to commit wire fraud, wire fraud and money laundering.
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The U.S. Attorney’s Office for the District of Oregon reported that the suspects convinced investors to finance the sale and renovation of multiple undervalued residential properties from January 2019 to 2023.
According to officials, the men told investors they would generate a profit by renting out the properties and refinancing them “to extract their increased value from the renovations.”
The Attorney’s Office alleged Christensen and Matic claimed investors would be fully repaid with interest between 8% and 15%, and a generous lump sum payout, within 30 to 90 days.