Sad to hear of conviction and sentencing (Medford Mail Tribune story HERE) of former HUD/FHA Deputy Director of Single Family Jim Nistler for a housing development ponzi scheme in Medford. The 80 year old Nistler has now been sentenced to 19 months in prison.
I knew Jim when I was the FHA Single Family Director in Oregon and he was the TOP FHA SF official in the country for a few years during the 1980's. Jim was always supportive of our Oregon office, and of me, and it is very sad to learn that he cheated investors, including some elderly investors, as part of a real estate development in his home state of Oregon.
While the downturn in the market may have played a role, that is still no excuse to cheat investors who put their trust in your honesty, particularly if some of that trust may have been based on your former service as a public official.
Originally created and posted on the Oregon Housing Blog.
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