MEDFORD, Ore. (AP) — The Oregon attorney general’s office says a Medford-area developer and mortgage broker has been convicted in a real estate scheme that cost investors more than $800,000.
Attorney General John Kroger said Wednesday that a Jackson County Circuit Court jury had convicted James C. Nistler on 17 counts, including racketeering, securities fraud and aggravated theft.
The scheme centered on Tennessee Acres, a proposed housing development in Medford. Nistler took in $1.2 million from investors to build houses, but actually spent less than $400,000 on the project.
About a dozen mostly elderly investors suffered the financial losses. Nistler was unlicensed and the securities he sold were unregistered.
Sentencing is set for Dec. 9.
