Indicted Developer Ken Mattson Ordered to Surrender Deed of Piedmont Home
A U.S. magistrate judge has ordered indicted Sonoma developer Ken Mattson to surrender the deed of a residential property in Piedmont, California, to be included as collateral in his $4 million bail package. The ruling was issued following a court hearing on Wednesday addressing the terms of Mattson’s release while awaiting trial.
The property, located at 210 La Salle Avenue, is owned by Mattson’s wife, Stacy Mattson, and was previously disputed as acceptable collateral. Magistrate Judge Alex G. Tse ruled in favor of federal prosecutors, ordering that the home’s deed be placed into bond.
Arguments From Prosecution and Defense
Mattson’s legal team had sought court approval earlier this year to sell two properties, including the Piedmont home, to help cover legal expenses. Prosecutors argued that the property was suitable as bail collateral, while the defense contended that it should be excluded due to a pending foreclosure order scheduled to take effect on December 30.
Defense attorney Randy Sue Pollock requested that the court delay its decision until the trial judge ruled on related matters. The request was denied, and the defense later agreed to submit the deed by the end of the week, placing an estimated $2 million in equity into the bond arrangement.
Purpose of the Property Bond
Federal prosecutors confirmed that the property is intended solely to ensure Mattson’s appearance at trial, citing concerns that he had previously been deemed a flight risk. Any proceeds resulting from foreclosure would be directed to the court clerk, not toward restitution for alleged victims.
The Piedmont estate is valued at more than $6 million, and creditors have reportedly sought control of the property through legal means, including potential eviction proceedings.
Investor Reaction and Criminal Charges
One investor, Risa Meyer, told local media that securing the lien provided reassurance that Mattson would not remain free without posting adequate bail.
Mattson was arrested and indicted in May on nine felony charges, including wire fraud, money laundering, and obstruction of justice. Prosecutors allege that he operated a Ponzi scheme for more than 15 years, raising at least $46 million from investors by selling fraudulent ownership interests in real estate projects.
According to court filings, Mattson acquired more than two dozen properties in the Sonoma region, collectively valued at approximately $80 million. He was released on bond in late May and is currently residing in San Francisco pending trial.
✦ ArchUp Editorial Insight
The U.S. magistrate judge’s decision to compel indicted developer Ken Mattson to surrender the deed of the Piedmont property as collateral for his $4 million bail package represents a critical move, underscoring concerns about his flight risk and the gravity of the wire fraud and money laundering charges in the $46 million Ponzi scheme. The inclusion of the property, which represents an estimated $2 million in equity, is intended primarily to guarantee Mattson’s appearance at trial, sending a clear message about the court’s commitment to securing his presence despite the defense’s attempts to sell it due to a pending foreclosure order. This development highlights how legal proceedings intersect with the personal real estate holdings of developers facing serious charges, and provides some reassurance to affected investors that justice is seeking to impose strict oversight measures.
