United States SEC Charged ex-CEO of Real Estate Firm LeFever Mattson for Fraud by Selling $46 Million Fake Interests in Real Estate Investment to 200 Investors with Majority Retired Senior Citizens from His Church Community from 2007 to 2024
24th May 2025 | Hong Kong
The United States Securities and Exchange Commission (SEC) has charged ex-CEO of real estate firm LeFever Mattson for fraud by selling $46 million of fake interests in real estate investment to around 200 investors with majority of investors are retired senior citizens from his church community from 2007 to 2024. United States SEC (22/5/25): “The Securities and Exchange Commission today charged San Francisco Bay Area resident Kenneth Mattson, the former CEO of real estate investment business LeFever Mattson, with defrauding approximately 200 investors of at least $46 million by selling them fake interests in real estate investment limited partnerships. Many of these investors were retired senior citizens Mattson met through his church community. According to the SEC’s complaint, LeFever Mattson managed legitimate limited partnerships that invested in residential and commercial real estate, and that were owned by a set of real investors. From approximately 2007 to April 2024, Mattson allegedly offered and sold fake ownership interests in these limited partnerships to defrauded investors. According to the complaint, the fake sales were not reflected in the legitimate records of ownership, and investors who purchased the fake interests never became actual limited partners or received ownership rights. Instead, Mattson allegedly commingled new investor funds with personal and business funds and used the commingled funds to make Ponzi-like payments, gave defrauded investors false tax records, and misappropriated investor funds to pay for personal expenses and real estate transactions and expenses related to his personal partnership, KS Mattson Partners LP. The complaint further alleges that Mattson solicited investors to transfer funds from their individual retirement accounts (IRA) to so-called self-directed IRAs, enabling them to invest in the purported limited partnership interests Mattson offered and sold. These purported sales were not recorded in LeFever Mattson’s books and records, and these investors did not become actual limited partners, according to the complaint … … The SEC’s complaint, filed in the U.S. District Court for the Northern District of California, charges Mattson with violating the antifraud and registration provisions of the federal securities laws. The SEC seeks permanent injunctions, including a conduct-based injunction, disgorgement with prejudgment interest, civil penalties, and an officer and director bar. The complaint also names KS Mattson Partners LP as a relief defendant and seeks disgorgement of its ill-gotten gains with prejudgment interest. The SEC’s Office of Investor Education and Advocacy has issued an Investor Alert with tips on how investors can identify and avoid frauds that operate in connection with self-directed IRAs.”
“ United States SEC Charged ex-CEO of Real Estate Firm LeFever Mattson for Fraud by Selling $46 Million Fake Interests in Real Estate Investment to 200 Investors with Majority Retired Senior Citizens from His Church Community from 2007 to 2024 “
United States SEC Charged ex-CEO of Real Estate Firm LeFever Mattson for Fraud by Selling $46 Million Fake Interests in Real Estate Investment to 200 Investors with Majority Retired Senior Citizens from His Church Community from 2007 to 2024
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