SEC Takes Action Against $46 Million Real Estate Ponzi Scheme

May 28, 2025 - 01:00

Kenneth Mattson, a figure associated with LeFever Mattson, has been charged by the Securities and Exchange Commission (SEC) for orchestrating a fraudulent scheme that defrauded retirees out of $46 million. The allegations state that Mattson sold non-existent interests in real estate limited partnerships to unsuspecting investors, many of whom he met through his church community.

According to the SEC, Mattson promised high returns on investments in various real estate projects but instead used the funds to pay earlier investors, a classic hallmark of Ponzi schemes. The complaint highlights that Mattson's actions not only jeopardized the financial security of numerous retirees but also exploited their trust, as he targeted individuals within his local community.

The SEC's crackdown aims to protect investors and ensure that those who engage in fraudulent activities are held accountable. This case serves as a stark reminder of the importance of due diligence and skepticism, especially when it comes to investment opportunities that seem too good to be true.