Embattled Sonoma developer Ken Mattson has been ordered by a federal judge to surrender the deed to a home in Piedmont, California, as part of his $4 million bail package. The decision was made during a court hearing on Wednesday and involves a property at 210 La Salle Avenue, which is owned by Mattson’s wife, Stacy.
The hearing focused on whether the Piedmont home could be used as collateral for Mattson’s bail. Magistrate Judge Alex G. Tse sided with prosecutors and required that the deed be placed into bond. Assistant U.S. Attorney Nikhil Bhagat argued that the property was suitable for inclusion in the bail package, while Mattson’s defense team claimed it should not count because a foreclosure order is scheduled to take effect on December 30.
Mattson’s attorney, Randy Sue Pollock, had requested that Judge Tse delay any action until another judge ruled on related matters in the broader case against Mattson. This request was denied, and Pollock agreed to hand over the deed by Friday. The equity in the estate is estimated at $2 million.
Bhagat clarified that using the house as collateral is intended to ensure Mattson appears at trial and does not serve as restitution for victims. If the property is sold due to foreclosure, any remaining equity will go to the court clerk. Creditors have sought control of the home, valued at more than $6 million, through various means including possible eviction.
Risa Meyer, an investor who put money with Mattson, told the Press Democrat after the hearing: “I’m glad we finally have that lien. It has been a bone of contention, and a point of fear. People have been afraid that [Mattson] would be able to remain free without ever posting bail.”
Mattson was arrested and indicted in May on nine felony counts such as wire fraud, money laundering, and obstruction of justice. Prosecutors allege he operated a Ponzi scheme over at least 15 years that defrauded investors out of at least $46 million. During this period, he reportedly bought more than two dozen properties in Sonoma worth about $80 million. He currently resides in San Francisco and was released from custody on bond in late May.
