SEC Charges California Investment Manager With Alleged 15-Year Ponzi Scheme
Federal prosecutors charged a San Francisco real estate investment manager with executing a Ponzi scheme that cost investors at least $46M. Kenneth Mattson was scheduled for his first hearing Friday at the Phillip Burton Federal Building in San Francisco. Kenneth Mattson, the former CEO of LeFever Mattson, is charged with defrauding approximately 200 investors by selling fake ownership stakes into apartment properties that he partially owned. The scheme lasted from 2007 to 2024 before ultimately unraveling after he failed to find new investors. “Mr. Mattson will now be held to...