SEC Charges - Robert D. Christensen - Anthony M. Matic

SEC Charges – Robert D. Christensen – Anthony M. Matic

SEC Charges Two Oregon Residents, Robert D. Christensen and Anthony M. Matic, and Their Related Entities with $10 Million Ponzi-Like Scheme

Washington, DC (STL.News) The Securities and Exchange Commission (SEC), Friday, June 30, 2023, charged Oregon residents Robert D. Christensen and Anthony M. Matic, as well as several companies they controlled, with conducting a multi-year Ponzi-like scheme and misleading investors who purchased more than $10 million in promissory notes.

According to the SEC’s complaint, from at least January 2018 through September 2022, Christensen and Matic used four entities that they founded – Foresee Inc., The Commission PDX LLC, The Policy PDX LLC, and Innings 150 LLC – to raise money from retail investors, including several retirees, for the purported purpose of investing in real estate. Christensen and Matic allegedly raised this money through the offer and sale of unregistered promissory notes, which promised high-interest rates between nine and 15 percent to be paid to investors, in addition to the return of all principal, within just a few months.  In reality, the complaint alleges Christensen and Matic did not have the ability to pay investors the promised returns within the time periods identified in the notes; instead, they relied on new investor money to pay earlier investors.  Additionally, Christensen and Matic allegedly used investor money for unauthorized and undisclosed purposes, including paying for at least one vacation, gifts, casino trips, massages, personal expenses, a whiskey club membership, and cryotherapy.

“As we allege in our complaint, Christensen and Matic promised high-interest payments and quick returns to convince investors to participate in their scheme, when in reality, they did not have the ability to make the promised payments and spent significant amounts of investor funds on personal entertainment and expenses,” said Monique C. Winkler, Director of the SEC’s San Francisco Regional Office.  “The SEC is committed to rooting out and stopping offering frauds targeting investors’ hard-earned money.”

The SEC’s complaint, filed in the U.S. District Court for the District of Oregon, charges Christensen and Matic and their four related entities with violating the antifraud and securities registration provisions of the federal securities laws. Without admitting or denying the allegations in the complaint, Christensen, Matic, and the charged entities agreed to settle with the SEC and to the entry of final judgments imposing requested permanent and conduct-based injunctions as well as $5,374,482 in disgorgement and prejudgment interest.   Christensen and Matic further agreed to each pay a $200,000 penalty as well as to the imposition of permanent officer and director bars.  The settlements are subject to court approval.

SOURCE: Securities and Exchange Commission


Martin Smith is the founder and Editor in Chief of STL.News, STL.Directory, St. Louis Restaurant Review, STLPress.News, and USPress.News.  Smith is responsible for selecting content to be published with the help of a publishing team located around the globe.  The publishing is made possible because Smith built a proprietary network of aggregated websites to import and manage thousands of press releases via RSS feeds to create the content library used to filter and publish news articles on STL.News.  Since its beginning in February 2016, STL.News has published more than 250,000 news stories.  Smith is a member of the United States Press Agency.

More Reading

Post navigation