Indicted investment adviser Ken Mattson, accused of running a “classic Ponzi scheme,” is now facing eviction from his multi-million dollar Sonoma estate.
Mattson and his wife, Stacy, continue to live rent-free in the 6,000-square-foot home, which is owned by his bankrupt former company, KS Mattson Partners. Per the Press Democrat, attorneys for the court-appointed administrator are moving to take possession of the over $6 million property to maximize recovery for hundreds of defrauded investors, many of whom met Mattson through church circles.
Lawyers state the Mattsons owe over $240,000 in unpaid rent and their occupation is preventing the sale of the asset. The same day the eviction process began, a judge also denied Mattson’s request to sell another property to fund his legal defense.
The legal efforts follow Mattson’s indictment in May on nine counts including wire fraud and money laundering.