"The buyer was KS Mattson Partners, which was making its first real estate acquisition in the Sonoma area. The company would go on to acquire at least 88 properties in and around the city by 2023. Federal prosecutors now assert many of those purchases were fraudulently financed. KS Mattson Partners' manager and co-founder, Ken Mattson, was indicted in May on a total of nine counts of wire fraud, money laundering and obstruction of justice,"
"The other obscure entity in that 2015 deal, meanwhile, was Tony's Salami & Cheese Fund I, an investment company managed by Peter Ingoglia. It uses the same Sacramento address as Socotra Capital, a hard-money lender co-founded by John Ingoglia, Peter's brother that is inextricably connected with Ken Mattson's real estate empire in Sonoma, including purchases that now form a central element of the U.S. Department of Justice's criminal case against Mattson."
"The two parties climbed together, with Socotra floating at least 92 loans to KS Mattson Partners starting in 2017, according to a court declaration by Kristin D. Rivera, a partner in PricewaterhouseCoopers' investigations and forensics practice who analyzed lending documents. Socotra now holds deeds of trust on 75 properties held by either KS Mattson Partners or entities belonging to LeFever Mattson Inc., the"
A 2015 Sonoma property sale marked KS Mattson Partners' entry into local real estate, after which the company acquired at least 88 properties by 2023. Federal prosecutors allege many purchases were fraudulently financed. KS Mattson Partners' manager and co-founder, Ken Mattson, was indicted on nine counts including wire fraud, money laundering and obstruction, and is accused of orchestrating a Ponzi scheme that may have bilked hundreds of investors of tens of millions of dollars over at least 15 years. Tony's Salami & Cheese Fund I and Socotra Capital are financially intertwined with Mattson's empire. Socotra issued at least 92 loans starting in 2017 and now holds deeds of trust on 75 related properties.
Read at www.pressdemocrat.com
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