State v. Nistler

Under ORS 131.125(8), the statute of limitations for aggravated first-degree theft is three years, unless a theory of continuing criminal action is set forth in the indictment, which may toll the statute of limitations.

Defendant appealed convictions for racketeering, eight counts of securities fraud, and eight counts of aggravated first-degree theft, arguing that the trial court erred by rejecting challenges to the state’s evidentiary witnesses, denying defendant’s motion for acquittal on charges for securities fraud, and denying his demurrer to five of eight theft charges. Defendant purchased undeveloped property and lured multiple victims into investing in the land for development, promising a return on investments upon development. Defendant used some of the investment capital to build lots on the land, but primarily used the investments to pay his wife and repay investors their promised prepaid interest. The land was not developed as expected, and the victims were only able to recoup some of their investments. On review, the Court held that the five challenged theft charges did not fall within the three-year statute of limitations, because first-degree theft does not require fraud as an essential element, and because concealment was not alleged on the indictment. Therefore, the statute of limitations for five counts had expired. The Court summarily affirmed the remaining convictions, and remanded for resentencing on charges of aggravated first-degree theft.