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Comment By Vickie Aldous Mail Tribune MailTribune.com By Vickie Aldous Mail Tribune Posted Oct. 5, 2015 at 3:47 PM By Vickie Aldous Mail Tribune Posted Oct. 5, 2015 at 3:47 PM » Social News A Medford developer who lost more than $250,000 of investors' money in a failed real estate development was re-sentenced Monday after part of his conviction was overturned on appeal. However, James C. Nistler's 19-month prison sentence will not change, according to a ruling Monday by retired Jackson County Circuit Judge Raymond White. White presided over Nistler's 2010 trial and returned to the bench Monday for the re-sentencing in the complex case. "You were playing fast and loose with other people's money," White told Nistler. White said Nistler's convictions remain for racketeering, multiple counts of fraud or deceit regarding securities and multiple counts of first-degree aggravated theft — thus justifying the 19-month prison sentence. An appeals court reversed Nistler's convictions on five other counts of first-degree aggravated theft. Nistler, now 84, has been out on bond for several years while his case was on appeal. He was ordered to report by Nov. 2 to begin serving his sentence. After decades of work in the Rogue Valley in which he built more than 800 homes, Nistler and his family said he got caught up in the real estate boom of the 2000s and then lost everything when the housing market crashed, triggering the 2008 recession. "I feel badly about everybody's loss," Nistler said. "However, I lost everything myself after a lot of years of hard work." His son, Realtor and mortgage broker Trent Nistler, pleaded with the judge Monday to sentence his father to probation rather than prison. Trent Nistler said people involved in real estate were making money hand over fist because the value of houses was rising so quickly during the boom. "He and everyone else got swept up in this tide," Trent Nistler said. Trent Nistler said with so much money to be made, people lost their normal sense of caution and were not as careful as they should have been. James Nistler took money from people to finance a Medford housing development, but when the housing crash hit, his lots lost so much value houses could not be built profitably on the land, Trent Nistler said. Some investors foreclosed on James Nistler and became lot owners, while others pushed him to keep building homes even though he had gone broke, Trent Nistler said. During the trial, prosecutors said James Nistler took $1.2 million from investors but put less than $400,000 into the development project. About a dozen investors lost more than $800,0000. Some people lost their life savings, according to prosecutors. Prosecutors said James Nistler created an elaborate pyramid scheme and provided misleading information to investors, many of whom were elderly and vulnerable. James Nistler was ordered to pay restitution to the victims that ranged from $28,950 to $78,482, with the total restitution at $257,611, according to court records. Trent Nistler said his father has not been able to repay his investors and now lives off Social Security payments plus whatever he can make cutting and selling hay. While many developers, investors and homeowners lost money during the housing crash, Trent Nistler said his father was sentenced to prison because of alleged securities violations. Defense attorney Michael Kellington said securities law is very difficult for the average person to understand. "I surely didn't know I was violating the law," James Nistler said. Family members said James Nistler has a host of medical conditions, including heart problems, kidney disease and a history of cancer. Kellington said it will cost the state about $80,000 per year to keep James Nistler in prison because of his medical problems. He said James Nistler will explore appealing his case to a higher court. In re-imposing the original 19-month prison sentence, the judge allowed James Nistler to earn time off his sentence for good behavior and to be eligible for alternative incarceration. Kellington said he estimates his client could serve 12 to 14 months in prison. He said prison officials could decide prison is not the best place for James Nistler. "Hopefully they'll realize how expensive it is to house him and what a travesty it is for the whole family and the community and release him," Kellington said after the 19-month sentence was affirmed. Family members said they feared that with James Nistler's advanced age and health problems, the sentence could amount to life in prison. The Jackson County District Attorney's Office was not in favor of converting James Nistler's sentence to probation only, said Jeremy Markiewicz, chief deputy district attorney. He said the case has dragged on for so long while on appeal some of the victims have moved away or died. None came to speak at the re-sentencing. "It's time to pay the piper," Markiewicz said. Staff reporter Vickie Aldous can be reached at 541-776-4486 or [email protected] . Follow her at www.twitter.com/VickieAldous . By Vickie Aldous Mail Tribune MailTribune.com By Vickie Aldous Mail Tribune Posted Oct. 5, 2015 at 3:47 PM » Comment or view comments Reader Reaction » STAY INFORMED Email NewsLetter Sign Up Today Sign up for our newsletter and have the top headlines from your community delivered right to your inbox. Southern Oregon Directory Featured Businesses Loading... 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