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6h ago

Sonoma Developer Kenneth Mattson Pleads Not Guilty to Federal Ponzi Scheme Charges

Mattson faces nine felony counts over an alleged 16-year fraud that defrauded hundreds of investors of over $28 million, with prosecutors seeking his continued detention citing flight risk and obstruction concerns.

Ken Mattson in a 2019 photo. Mattson, who was arrested by federal officials on suspicion of orchestrating a Ponzi scheme that defrauded dozens of people of millions of dollars, made his first court appearance. 
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Overview

  • Kenneth Mattson, a Sonoma real estate developer, is accused of orchestrating a 16-year Ponzi scheme defrauding hundreds of investors, many of them retirees, out of at least $28 million.
  • Federal prosecutors allege Mattson used fake real estate partnerships to solicit funds, which were diverted to personal expenses and payouts to earlier investors.
  • Mattson pleaded not guilty to nine felony charges, including wire fraud, money laundering, and obstruction of justice, during his court appearance on May 23, 2025.
  • Prosecutors claim Mattson deleted thousands of subpoenaed files and concealed assets, including cash and property, to evade investigators, leading to concerns about flight risk.
  • A detention hearing is scheduled for Wednesday, where the court will decide whether Mattson remains in custody as victims, many financially devastated, call for accountability.