The FBI raided one of embattled developer Ken Mattson’s homes in Sonoma on Friday morning, the bureau’s San Francisco office confirmed.
The FBI made no arrests at the property. But agents visited Mattson’s home in the 3000 block of Castle Road, situated behind a coded gate in an exclusive area of unincorporated Sonoma County northeast of the city of Sonoma, sometime in the morning.
It isn’t clear whether they removed any of Mattson’s personal property during the raid. The FBI declined to confirm any details.
Mattson did not respond to a text message. His criminal attorney, Randy Sue Pollock, declined to comment when reached by The Press Democrat.
Mattson, the suddenly embattled real estate developer and investment manager, is under intense scrutiny following two emails sent to a set of investors by his longtime business partner, Tim LeFever.
The emails detail improper transactions Mattson reportedly conducted without authorization, according to LeFever. In the second of the two emails, dated May 17, LeFever wrote that he had referred the matter to the U.S. Attorney’s Office and the federal Securities and Exchange Commission.
LeFever and his legal counsel, Scott Cameron Smith, did not respond to requests for comment.
The earlier email, sent May 9, focused on Divi Divi Tree, a limited partnership investment firm established by Mattson and LeFever. In it, LeFever told an unknown number of investors they had not in fact purchased shares in Divi Divi Tree, as Mattson had told them. Rather, according to LeFever, Mattson deposited their money into a personal account of his own, without informing other members of the company.
Mattson allegedly then sold his own interests in Divi Divi Tree to investors. But none of the money flowed to the corporation. LeFever also hinted in his emails that Mattson was committing funds he in fact may not have had.
Investors say Mattson’s questionable dealings go way beyond Divi Divi. The Press Democrat has spoken to a number of investors who say they were ripped off in other ways. At least a handful of cases involved so-called 1031 property exchanges, which are designed to reduce capital gains taxes on real estate sales. According to the investors, Mattson organized exchanges on their behalf, but their names haven’t shown up property deeds.
Several investors who spoke to The Press Democrat said they are exploring legal options. As of Friday, none of them seem to have taken legal action. No new civil cases involving Mattson or KS Mattson Partners appear on the Sonoma County Superior Court website, though there is often a delay of days or weeks in cases posting on the public portal.
In early April, LeFever informed investors that Mattson was stepping down as CEO and CFO of LeFever Mattson. He was replaced by LeFever.
The two former partners and their huge local real estate portfolio have been the subject of intense suspicion and resentment by Sonoma residents for several years. Neighbors have complained of derelict properties, broken promises, far-right political views and a huge accumulation of real estate with no stated strategy.
When profiled by The Press Democrat a little over a year ago, Mattson and LeFever owned at least 116 properties in and around the city. A number of them were co-owned, but most were purchased by KS Mattson Partners, which is solely controlled by Mattson.
Mattson and LeFever had been friends since before high school, according to old acquaintances. They were classmates together at Cordova High School in Rancho Cordova, and again at UC Berkeley.
The house on Castle Road — Mattson owns adjacent parcels as well — was purchased by KS Mattson Partners for $6.5 million in July 2021
You can reach Phil Barber at 707-521-5263 or phil.barber@pressdemocrat.com. On X (Twitter) @Skinny_Post.
