SEC Charges Former Real Estate Investment CEO With Operating Multimillion Dollar Ponzi-Like Scheme

The Securities and Exchange Commission today charged San Francisco Bay Area resident Kenneth Mattson, the former CEO of real estate investment business LeFever Mattson, with defrauding approximately 200 investors of at least $46 million by selling them fake interests in real estate investment limited partnerships. Many of these investors were retired senior citizens Mattson met through his church community. According to the SEC’s complaint, LeFever Mattson managed legitimate limited partnerships that invested in residential and commercial real estate, and that were owned by a set of real investors. From approximately 2007 to April 2024, Mattson allegedly offered and sold fake ownership interests in these limited partnerships to defrauded investors.