Interlink Official Held in Contempt in SEC Fraud Suit : Courts: A federal judge orders Michael Gartner to return $22,000 to company’s frozen bank account.

LOS ANGELES —  A federal judge Monday held in contempt an Orange County executive accused of defrauding more than 450 investors of $10 million in a phony video phone scheme.

Judge Manuel Real ordered Michael Gartner to return $22,000 to a frozen bank account for Gartner’s Costa Mesa-based company, Interlink Data Network Inc. of Los Angeles. Real gave Gartner a deadline of Monday to pay the money or face court penalties.

Gartner and his attorney have denied allegations that the executive violated securities fraud laws in raising money for a video phone venture. He has taken the Fifth Amendment in response to requests from the U.S. Securities and Exchange Commission for evidence.

In June, the SEC filed a suit against Gartner and Interlink. Real barred the company from raising more money and froze its assets.

Gartner received a court-approved payment of $1,000 to use for living expenses. Greg Bruch, an attorney for the SEC in Washington, said that the civil contempt charge was filed against Gartner after his sister, Yvette, made a $19,200 payment for one month’s rent on Gartner’s palatial home in San Juan Capistrano.

In a related development, the SEC obtained a court order in July against Portfolio Asset Management in El Paso, Tex., the broker-dealer company that sold partnerships for Interlink. A federal court there has appointed a receiver to replace PAM Chairman Ronald Combs.

PAM, which had 400 registered representatives selling its investments, ceased trading as a broker-dealer on Aug. 2, a company attorney said.