"About 20 people were seated in the courtroom, and some began clapping and urging, "Yes!" The gallery was mostly filled by people who had invested in Mattson-related ventures, and they had gathered at the Phillip Burton Federal Building as a show of strength, and to encourage Tse to throw the book at the man they accuse of defrauding them. The judge admonished those who clapped and spoke aloud. A bailiff warned them that additional outbursts might get them booted from the courtroom."
"Mattson has been free on bail since the first hearing following his arrest and indictment in May on nine felony counts of wire fraud, money laundering and obstruction of justice. He stands accused by prosecutors of running a Ponzi scheme that bilked potentially hundreds of investor clients out of tens of millions of dollars over a period of at least 15 years. Groups of his investor clients have attended some of his appearances in the criminal case, where he has pleaded not guilty."
Ken Mattson appeared at a San Francisco federal hearing to review bail terms amid accusations of a long-running Ponzi scheme. Lawyers disputed the value of a Piedmont house owned by his wife and whether alternative properties could secure his criminal bond. Magistrate Judge Alex G. Tse warned he could remand Mattson into custody, prompting about 20 investors in the gallery to clap and shout in approval. The judge admonished the crowd and a bailiff warned against further outbursts. Mattson has pleaded not guilty to nine felony counts including wire fraud, money laundering and obstruction, and investors submitted numerous victim statements.
Read at The Mercury News
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