Free Report - District Court of Arizona - Arizona

i . urls no4;mr_;.q· » CE " _ I an I
;m$r;%gJElt駧f}£E§P0?;§T¤“sii“l%%i”é2§ 0
I` _ . I NZ" THEICO . I o __ tcneeo
{ [t] __ neces./so __ ccev
S REE(tlVmP;S ESQ i )
I MICHAEL . , .
stare an Number: 010420 AUG ° 5 Zim
2 1212 East O§1>01'¤ cream ti s otstancr count
Phoemx, Arizona 85014 tJtSTFtlCJT OF ARIZONA
3 Tel: [602] 604-7577 ev___mw$hg¤_pmm_,,L peetnv
Fax: [602] 604-7555 “`“" ' ` Tw `
4 Attorney for Ronald Holt
5 UNITED STATES DISTRICT COURT
6 DISTRICT OF ARIZONA
7 Securities Exchange Commission ) CV 03-1825 PHX PGR
I )
8 Plaintiff ) REPORT TO THE COURT
)
9 )
) Related Cases
1 0 ) Commodities Futures Trading Commission
) v. Ronald Holt, et al, CV 03-1826
1 I Vs. ) -
) Investors in IFA, et al, v. International
II. 2 Ronald Holt, et al ) Funding Association, et al, CV U3-1302
J
1 3 )
Respondents. )
1 4 )
I 5 Ronald Holt, by and through undersigned counsel, hereby reports to the Court regarding
I 6 his activities during the furlough process.
I 7 The Court required that Mr. Holt perform certain activities during the course ofthe
I 8 present furlough. Those activities were to include: weekly meetings with the Receiver or his
1 9 staff members; giving a deposition when requested; completing outstanding discovery; not
2 0 leaving the state without permission; and advising the parties of his whereabouts by checking in
2 1 with the Receiver, and notifying all of his residence and phone numbers.
2 2 Mr. Holt met regularly (though not every week as both sides had emergencies to deal with
2 3 and vacations of the Receiver’s staff) with the Receiver’s staff member, Sherry. For the first
2 4 several visits Mr. Holt was requested to give written responses to written questions posed by the
2 5 Receiver, which he did complete. The meetings then became a review of documentation in the
2 6 Receiver’s possession with answers being given by Mr. Holt to questions posed. Though Mr.
2 7 Holt offered to go over all of the books of the organizations in question, that offer was declined.
2 8 As a result ofthe meetings, the amount of the surmnaries of lost monies was reduced from
Case 2:03-cv-01825-PGR Document 249 Filed 08/05/2005 Page 1 of 4

4
1 approximately $14,000,000 to $9,700,000. Thus, at least in Mr. Holt’s view, the meetings have
2 been productive.
3 Mr. Holt was never requested to take a deposition, but he did complete the only discovery
4 that was outstanding to his knowledge. He completed a set of interrogatories and requests for
5 admissions from Commodities Futures Trading Commission and delivered them in mid-July.
6 Mr. Holt did leave the state, but only with permission.
7 Mr. Holt advised the Receiver of his residence and phone numbers and kept in regular
8 contact with the Receiver.
9 Mr. Holt has now complied with all of the purge requirements of the Court. The actions
1 0 required to be dismissed were dismissed. The vehicles and other personal property were turned
1 1 over and have been sold by the Receiver. Mr, Holt has attended the only deposition requested of
12 him and completed the discovery requests. Contrarily, the Governmental agencies have never
1 3 provided Mr. Holt_ with documentation requested by him in various letters to their counsels.
1 4 Unfortunately, no other monies have been recovered, despite efforts of Mr. Holt and
1 5 counsel to obtain further information from the Bahamas. Mr. Holt is not aware of any efforts of
1 6 the Governmental agencies to secure any information from the Bahamian government or its
1 7 agencies, receivers or trustees in follow-up on the information Mr. Holt has given the
1 8 Governmental agencies
1 9 Finally, Mr. Holt reports to the Court that he suffered tremendously while in custody. He
2 0 was severely beaten while being held in jail and had to be transported to the hospital for trauma
2 1 to his head. Mr. Holt was also injured in the ambulance while being transported to the hospital.
22 Mr. Holt was held in solitary confinement for a long period of time at the CCA facility. The
2 3 facility was not used to housing “contempt" detainees and had to make intemal adjustments to
2 4 handle Mr. Holt’s incarceration.
2 5 Mr. Holt has never attempted to ilee the jtuisdiction of the Court and has complied with
2 6 all of the terms of furlough and has completed the purge requirements of the Court. He has
2 7
2 8 2 I
Case 2:03-cv-01825-PGR Document 249 Filed 08/05/2005 Page 2 of 4

1 negotiated a settlement of the case and is simply waiting for the agencies to complete their
2 intemal review processes before signing a Consent and a Judgment in each matter. A
3 Wherefore Mr. Holt requests that the Court quash the contempt citation or alternatively, A
4 that the court extend the iiirlough until such time as the agreements between the parties have
5 been finalized and approved by the Court.
6 Signed and dated August 4, 2005. _ _
7
7
_ ICI-IAEL . E ,
9 Attomey for Petitioners
1 0
Copy mailed to the following this
1 1 _5__ day of August 2005:
12 Patrick M. Murphy, Esq.
4150 West Northern Ave.
1 3 Phoenix, Az 85051
Attomey for Receiver (Lawrence J. Warfield)
1 4
Robert Hildum, Senior Trial Attomey
1 5 Division of Enforcement
U.S. Commodity Futures Trading Commission
16 1155 21st St., NW
Washington, DC 20581
1 7
Timothy J. Mulreany, Chief Trial Attorney
1 8 Karon Powell, Trial Attorney
Division of Enforcement
19 1155 21st Street, NW
Washington, D.C. 20581
2 0
Thomas M. Connelly, Esq.
2 1 2425 East Camelback Road, Suite 880
Phoenix, Az 85016-4208
2 2 Attorney for Investors in IFA (#CV03—l302 & 1825/26)
2 3 Thomas M. Marlow, Esq.
2425 E. Camelback, Suite 880
2 4 Phoenix, Az 85016-4208
Attomey for Plaintiffs (Investors in IFA #CV03-1302-PHX-PGR)
2 5
Marshall Gandy, Esq.
2 6 U.S. Securities and Exchange Commission
801 Cherry Street, Suite 1900
2 7
2 8 3
Case 2:03-cv—01825-PGR Document 249 Filed 08/05/2005 Page 3 of 4

1 Fort Worth, Tx 76201
2 Susanne Ingold
Burch & Cracchiolo, PA
3 702 East Osborn Rd., #200
P.O. Box 16882
4 Phoenix, AZ 85014-5281
6
7
`
-
10
11
12
1 3
1 4
15
1 6
17
18
1 9 A
20
2 1
22
23
24
25 l
2 6
27
2 8
Case 2:03-cv-01825-PGR Document 249 Filed 08/05/2005 Page 4 of 4

Case 2:03-cv-01825-PGR

Document 249

Filed 08/05/2005

Page 1 of 4

Case 2:03-cv-01825-PGR

Document 249

Filed 08/05/2005

Page 2 of 4

Case 2:03-cv-01825-PGR

Document 249

Filed 08/05/2005

Page 3 of 4

Case 2:03-cv-01825-PGR

Document 249

Filed 08/05/2005

Page 4 of 4