U.S. Securities and Exchange Commission
Litigation Release No. 18918 / October 5, 2004
SEC FILES CONTEMPT MOTION AGAINST ROC HATFIELD FOR VIOLATING THE COURT'S MAY 6, 2002 AND JULY 10, 2003 ORDERS
SECURITIES AND EXCHANGE COMMISSION V. MARADA GLOBAL CORP., ET AL., Case No. 8:94-CV-1504-T-26MAP
The Securities and Exchange Commission ("SEC") announced that on September 29, 2004, it filed with the United States District Court for the Middle District of Florida an Application for an Order to Show Cause Why Roc G. Hatfield ("Hatfield") Should Not Be Held in Contempt for Failing to Comply with the Court's May 6, 2002 and July 10, 2003 Orders. The Court granted the SEC's application and set a hearing for October 29, 2004 in Tampa.
The Honorable Richard A. Lazzara had held an April 10, 2003 hearing on a previous SEC Application for an Order to Show Cause why Hatfield should not be held in civil contempt for failing to repay an investor $25,000. The Court at that time ordered Hatfield to pay $5,000 to the investor by April 25, 2003, which he did. But he failed to pay the remaining $20,000 by June 9, 2003 as ordered. Judge Lazzara then ordered Hatfield jailed until he paid the disgorgement.
At a June 25, 2003 status conference, while still in custody, Hatfield agreed to a monthly payment plan and the Court released him. On July 10, 2003, the Court ordered Hatfield to pay monthly installments of $2,000 until the sum of $20,000 was paid in full. To date, Hatfield has only paid $2,000 of the $20,000 balance.
For further information see Litigation Releases No. 17441 (March 27, 2002), No. 17747 (September 26, 2002), No. 17748 (September 26, 2002), No. 18062 (April 2, 2003) and No. 18233 (July 17, 2003).