SEC v. Maven Capital Corporation; Maven Enterprises, Inc.; and Rodd Buckle, No. LR-18341 (Sept. 11, 2003) — Press Release
raw: Maven Capital Corporation, Maven Enterprises, Inc., and Rodd Buckle, et al.
Maven Capital Corporation, Maven Enterprises, Inc., and Rodd Buckle, et al., No. LR-18341 (Sept. 11, 2003)
Rodd Buckle was held in civil contempt by the SEC for willfully failing to pay $2,037,815 in disgorgement and a $110,000 civil penalty ordered by a federal court in 2001, stemming from securities fraud charges involving his companies Maven Capital Corporation and Maven Enterprises, Inc.
The SEC filed an Application for Order to Show Cause on August 7, 2003, seeking civil contempt against Rodd Buckle for failing to comply with a February 13, 2001 court order requiring payment of $2,037,815 in disgorgement and a $110,000 civil penalty. Buckle, along with Maven Capital Corporation and Maven Enterprises, Inc., had been previously charged in a 1999 securities fraud case, and the 2001 judgment was final and binding. More than two years after the judgment, Buckle had made no payments, prompting the SEC to pursue contempt proceedings to enforce compliance.
In 1999, the SEC brought a civil action against Rodd Buckle, Maven Capital Corporation, and Maven Enterprises, Inc., alleging securities fraud, which culminated in a February 13, 2001 court order requiring Buckle to pay $2,037,815 in disgorgement and a $110,000 civil penalty within 30 days. Despite the finality of the judgment, Buckle made no payments whatsoever over the next two years, prompting the SEC to file an Application for Order to Show Cause on August 7, 2003, seeking civil contempt. The contempt motion focused solely on Buckle’s noncompliance with the court’s payment order, not on re-litigating the underlying fraud allegations. The SEC emphasized that Buckle’s failure to pay was willful and persistent, undermining the authority of the court and the integrity of securities enforcement. While the underlying fraud case was resolved by the 2001 judgment, Buckle’s refusal to satisfy the financial obligations remained unresolved at the time of the contempt filing. No outcome of the contempt proceeding is detailed in the release, leaving the enforcement status ambiguous. The case underscores the SEC’s use of contempt powers to enforce financial remedies in securities fraud cases, even years after the initial judgment.
Extracted insights
- $2.04M $2,037,815 $1M–$10M
- $110K $110,000 $100K–$1M
- agency Securities and Exchange Commission
- Securities and Exchange Commission Filed Application for Order to Show Cause
- Securities and Exchange Commission Alleged Buckle violated the Court's February 13, 2001 order
- Court Entered Order on Civil Penalties as to Buckle
- Order Provided Buckle pay previously ordered disgorgement of $2,037,815 and a civil penalty of $110,000 within thirty days of the order
Litigation Release No. 18341 / September 11, 2003 Securities and Exchange Commission v. Maven Capital Corporation, Maven Enterprises, Inc., and Rodd Buckle, et al., United States District Court for the District of Nevada, Civil Action No. CV-S-99-00501-KJD On August 7, 2003, the Securities and Exchange Commission filed an Application for Order to Show Cause why defendant Rodd Buckle (Buckle) should not be held in civil contempt for his violation of the Court's February 13, 2001 order directing him to pay disgorgement and a civil penalty within thirty days of the court's order. The Commission's application alleged that on February 13, 2001, the Court entered an Order on Civil Penalties as to Buckle. The order provided, among other things, that Buckle pay previously ordered disgorgement of $2,037,815 and a civil penalty of $110,000 within thirty days of the order. Although more than two years have passed since the judgment, Buckle has made no payment whatsoever. See also: L. R. 16123 (April 26, 1999).
Litigation Release No. 18341 / September 11, 2003 Securities and Exchange Commission v. Maven Capital Corporation, Maven Enterprises, Inc., and Rodd Buckle, et al., United States District Court for the District of Nevada, Civil Action No. CV-S-99-00501-KJD On August 7, 2003, the Securities and Exchange Commission filed an Application for Order to Show Cause why defendant Rodd Buckle (Buckle) should not be held in civil contempt for his violation of the Court's February 13, 2001 order directing him to pay disgorgement and a civil penalty within thirty days of the court's order. The Commission's application alleged that on February 13, 2001, the Court entered an Order on Civil Penalties as to Buckle. The order provided, among other things, that Buckle pay previously ordered disgorgement of $2,037,815 and a civil penalty of $110,000 within thirty days of the order. Although more than two years have passed since the judgment, Buckle has made no payment whatsoever. See also: L. R. 16123 (April 26, 1999).