"As the hundreds of people who powered Ken Mattson's real estate acquisitions struggle with lost monthly income and the possible erasure of their retirement funds, the indicted investment adviser and his wife continue to live in a 6,000-square-foot home behind a locked gate on Castle Road, overlooking the city of Sonoma. The contrast is a source of deep resentment among the investors, many of whom met Mattson in church circles and welcomed him into their homes to hear his financial pitches."
"Itkin has asked the judge overseeing the bankruptcy case, Charles Novack of the U.S. Bankruptcy Court of the Northern District of California, to begin that process by waiving the automatic stay that currently locks most of the company's finances in place. A person of good conscience would not continue living in a multimillion-dollar home for free while the victims of his alleged fraud wait for recoveries, lawyers representing KS Mattson Partners, known as KSMP, wrote in a Nov. 25 motion."
Investors who funded Ken Mattson's real estate acquisitions face lost monthly income and potential erasure of retirement funds while Ken and Stacy Mattson reside in a 6,000-square-foot gated home overlooking Sonoma. KS Mattson Partners is bankrupt and now administered by court-appointed Robbin Itkin, who seeks possession of the Castle Road estate and has asked Judge Charles Novack to waive the automatic stay to begin eviction and other remedies. KSMP lawyers called continued residence in the multimillion-dollar home unconscionable while alleged fraud victims await recoveries. The 50-acre property, valued at more than $6 million, is owned by KS Mattson Partners. Prosecutors accuse Ken Mattson of orchestrating a Ponzi scheme.
Read at www.pressdemocrat.com
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