Tim LeFever, co-founder of the disgraced LeFever Mattson real estate firm, has agreed to a nearly five-million-dollar settlement to compensate hundreds of investors defrauded in a massive Ponzi scheme.
The Press Democrat reports while his former partner Ken Mattson faces criminal charges for the hundred-million-dollar collapse, LeFever will avoid a lawsuit by waiving his own bankruptcy claims and paying the cash directly into a victim trust fund.
The deal effectively ends LeFever’s control over the company’s remaining assets and removes a major legal hurdle in the effort to return money to the “mom-and-pop” clients who lost their savings.