Federal officials have charged Kenneth Mattson, a Sonoma County real estate tycoon, with running a Ponzi scheme that defrauded nearly 200 investors of at least $46 million. His arrest occurred in a gym parking lot as authorities revealed that Mattson had been selling fictitious ownership interests in limited partnerships since 2007. The SEC has also filed a civil case against him. Mattson's financial troubles preceded his arrest, with ongoing lawsuits and a collapsing real estate empire comprised of over 257 properties worth more than $413 million, alongside numerous complaints from investors.
"Mattson’s alleged fraudulent real estate schemes bilked nearly 200 investors out of at least $46 million, according to federal officials who arrested him Thursday."
"The SEC's indictment revealed that from 2007 to 2024, Mattson sold fake ownership stakes in limited partnerships, defrauding investors without legitimate records."
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