U.S. Securities and Exchange Commission
Litigation Release No. 18233 / July 17, 2003
Securities and Exchange Commission v. Marada Global Corp., et al., Case No. 8:94-CV-1504-T-26MAP
Defendant Roc G. Hatfield Held In Civil Contempt And Incarcerated
The Securities and Exchange Commission (SEC) announced that on June 12, 2003, the Honorable Richard A. Lazzara found Roc Hatfield (Hatfield) in civil contempt and committed him to the custody of the United States Marshal Service until he paid disgorgement of $20,000 owed to an investor.
A hearing was held on April 10, 2003 on the SEC's Application for an Order to Show Cause why Hatfield should not be held in civil contempt for failing to pay the investor $25,000 as required by the Court on September 24, 2002 (Order). At the hearing the SEC introduced exhibits which showed that Hatfield had the financial ability to comply with the Order. Hatfield was ordered to pay $5,000 to the investor by April 25, 2003, which he did, but failed to pay the remaining $20,000 by June 9, 2003.
A hearing was held on June 17, 2003, to determine whether Hatfield should remain incarcerated. The Court ordered that Hatfield remain incarcerated and scheduled a status conference for June 25, 2003. At the status conference, Hatfield agreed to a payment plan whereby he would make monthly payments to the investor and the Court released him. On July 10, 2003, Hatfield was ordered to pay monthly installments of $2,000 until such time as the sum of $20,000 is paid in full to the investor.
For more information on earlier actions in this case, see Litigation Release No. 17441 (March 27, 2002), Litigation Release No. 17747 (September 26, 2002), Litigation Release No. 17748 (September 26, 2002) and Litigation Release No. 18062 (April 2, 2003).