Ore. developer must pay restitution to investors

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MEDFORD, Ore. (AP) -- A southern Oregon man convicted of fraud and racketeering in a real estate development scheme in the Medford area has been ordered to pay more than $250,000 in restitution to investors.

The Mail Tribune reports a judge ruled Thursday that 80-year-old James Nistler must pay five victims of the scheme.

Nistler was a high-ranking official with the U.S. Department of Housing and Urban Development in the late 1980s and claims to have built more than 800 homes in Jackson County.

A prosecutor said Nistler took $1.2 million from investors to build houses in the scheme, but spent less than $400,000 on the project.

Nistler was convicted last year of racketeering, securities fraud and aggravated theft. He remains free on bond as he appeals his 19-month prison sentence.

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Information from: Mail Tribune, http://www.mailtribune.com/