realestate

LeFever Mattson investors demand answers on mogul's lack of accountability

LeFever Mattson investors fume: Why have troubled real estate moguls escaped accountability?

F
airbank, representing Ken Mattson, claims her client is acting on behalf of investors and wants to return their investments. She accuses Tim LeFever of trying to isolate funds from those making claims. Fairbank also stated that she can't comment on the pending federal investigation, which appears to be related to an email sent by LeFever and his lawyer that caused a panic among investors.

    LeFever has previously called Mattson a "thief" who stole money from senior citizens' retirement accounts. Many investors, including Michael Granados, felt a personal connection with Mattson and initially defended him during the business breakup last year. However, they are now facing financial hardships due to the crisis.

    The California Department of Motor Vehicles forced Mattson to close his car lots in May. The Granados family invested almost $500,000 in LeFever Mattson and are struggling to make ends meet. Elizabeth Granados, 89, relies on Social Security and is worried about selling her home to cover expenses. Her son Michael, who moved in with her in 2015, is also facing financial difficulties.

    Other investors are experiencing similar struggles. The Cranes, a couple connected to the investors who financed LeFever Mattson's $400 million real estate portfolio, have seen their friends and acquaintances suffer. An 88-year-old man can't live on Social Security alone, while another investor saw her credit score plummet after defaulting payments. Some have had to move in with family members or struggle with health issues due to increased stress.

LeFever Mattson investors gather, demanding accountability from mogul in corporate boardroom setting.