K
en Mattson, a real estate mogul, has been indicted on nine felony counts related to an alleged Ponzi scheme that took millions of dollars from clients over the past decade. The indictment, filed in the U.S. District Court for Northern California, alleges that Mattson orchestrated a scheme through his company LeFever Mattson, which claimed to offer safe and legitimate investments in real estate partnerships.

    However, prosecutors say Mattson never intended to make investors true partners, instead using their funds to fund personal expenses and real estate ventures that benefited himself. The scheme collapsed when Mattson was unable to raise new investor money to pay off existing investors.

    The indictment also accuses Mattson of similar fraud using his company KS Mattson Partners LP, which he controls with his wife Stacy. Investigators say Mattson took in $24 million from 75 investors between 2019 and 2024, promising them ownership interests that were never realized.

    Mattson is charged with seven counts of wire fraud, one count of money laundering, and one count of obstruction of justice. The charges carry a maximum sentence of up to 20 years in prison and a fine of up to $250,000. Mattson could also be forced to forfeit properties and pay restitution.

    The indictment alleges that Mattson deleted over 10,000 files, including partnership agreements and financial documents, after being subpoenaed by federal authorities. He is accused of laundering money through wire transfers totaling $2.2 million between 2020 and 2024.

    Mattson has denied claims made public last year by his business partner Tim LeFever that he had defrauded clients. His wife Stacy Mattson and attorney Micheline Fairbank did not respond to requests for comment, nor did LeFever.