Florida issues arrest warrant for head of Bermuda-domiciled ‘alternative finance’ firm

An arrest warrant has been issued in Florida against the debt-ridden principal of a Bermuda-domiciled company that purports to raise capital for clients via “innovative funding”.A warrant for the arrest of 39-year-old Patrick Michael Daleiden, of Satellite Beach, Florida, was approved on October 22, 2007 by Brevard County Circuit Judge James Earp. Daleiden was found to be in contempt for refusing to comply with court orders requiring him to attend hearings to answer questions about his finances for an action brought by a creditor seeking to enforce a $447,639 judgment against him, his 40-year-old wife, Kathryn Ann Daleiden, and his Florida firm Satellite Distributors, LLC, which is currently inactive.