Kenneth Mattson, a California real estate developer and investment manager, has been charged with orchestrating a 15-year Ponzi scheme that defrauded hundreds of investors of nearly $30 million. Federal prosecutors have filed seven counts of wire fraud, one count of money laundering, and one count of obstruction of justice against Mattson, who allegedly destroyed records during the federal investigation. The scheme involved Mattson using investor funds to finance a lavish lifestyle, including purchasing luxury vehicles such as Rolls-Royce and Ferrari. The Securities and Exchange Commission (SEC) has also charged him in connection with the alleged fraud. Mattson was arrested by the FBI in Napa and is currently in custody pending a detention hearing next week. Authorities say the scheme stripped some investors of their life savings, and the case highlights ongoing issues of fraud within the Bay Area real estate market.