Accused Ponzi scheme operator Ken Mattson has been released on $4 million bail after an emotional federal court hearing. According to the Press Democrat, dozens of alleged victims, many of them seniors, shared heart-wrenching accounts of financial ruin and personal devastation, urging the judge to keep Mattson detained.
Despite the powerful testimonies, Judge Alex Tse granted Mattson’s release to his wife’s custody under strict conditions, including GPS monitoring and travel restrictions. Mattson faces charges of wire fraud, money laundering, and obstruction of justice, with his first trial appearance set for June 6th.