Disgraced real estate developer Ken Mattson and his wife Stacy must vacate their lavish, 50-acre Sonoma hills estate by June 15th under a newly approved court agreement.
According to the Press Democrat, the 6.8 million dollar property will be handed over to bankruptcy trustees to be sold, with proceeds going into a trust to help compensate hundreds of defrauded investors. For months, the couple fought eviction by claiming they lived there rent-free as full-time caretakers, an excuse the bankruptcy estate called wholly unsupported.
Coincidentally, the June 15th move-out deadline is the exact same day Mattson is expected to change his plea to guilty in federal court for a massive Ponzi scheme that could carry up to 12 years in prison.
Liquidators expect to begin distributing initial payments to victims by late summer.
