Terry Shockley, a Eugene real estate manager charged with two counts of wire fraud, was sentenced to 51 months in prison and three years of probation, according to the Register-Guard. The U.S. District Court in Eugene also ordered Shockley to pay $4.5 million to his former clients.
Shockley pled guilty to the charges, which stipulated he communicated across state lines to intentionally deceive clients out of money. The government also accused Shockley of taking over $3.5 million in rent and security deposits from his properties in 2015 and using that money for personal use.
Shockley owned TS Property Management, which operated under the names Property Management Concepts and Eugene Rentals, before being forced into receivership. The company oversaw roughly 3,500 housing units near campus, many of which were inhabited by University of Oregon students.
Shortly after the company was handed over in February 2015, Shockley went missing with the $3.5 million. He was indicted roughly a year later.