UNITED STATES SECURITIES AND EXCHANGE COMMISSION


LITIGATION RELEASE NO. 15029 / September 3, 1996

UNITED STATES OF AMERICA v. JOHN ALLEN HALL, JR., and ROGER ALAN
BISHOP, SA96-CR-254, USDC, WD/TX
            
     The Securities and Exchange Commission and the United States
Attorney for the Western District of Texas announced that on
August 21, 1996, a grand jury returned a 26-count indictment
against John Allen Hall, Jr. ("Hall"), and Roger Alan Bishop
("Bishop"). Hall and Bishop were charged with wire fraud, mail
fraud, the sale of non-exempted securities by an unregistered
broker or dealer, and money laundering. 

     The criminal charges against Hall and Bishop relate to the
same activities alleged in the Commission's civil action filed on
April 24, 1992. According to the Commission's complaint, Hall and
Bishop participated in the fraudulent sale of unregistered
securities in the form of investment contracts in an investment
pool purportedly formed to finance transactions in the import and
export of commodities, and raised at least $10 million from at
least 300 investors residing in 24 states. Further, the complaint
alleged that Hall, Bishop, and others, lied to investors
concerning the use of investor proceeds, the profits and earnings
to be realized, and the risks associated with the investment.
Without admitting or denying the allegations, Hall and Bishop
consented to be permanently enjoined from future violations of
the registration and antifraud provisions of the federal
securities laws on July 24, 1994 and December 23, 1993,
respectively.
JOHN ALLEN HALL, JR. AND ROGER ALAN BISHOP INDICTED

     The Commission and the United States Attorney for the
     Western District of Texas announced that on August 21, 1996,
     a grand jury returned a 26-count indictment against John
     Allen Hall, Jr. (Hall), and Roger Alan Bishop (Bishop). Hall
     and Bishop were charged with wire fraud, mail fraud, the
     sale of non-exempted securities by an unregistered broker or
     dealer, and money laundering. 

     The criminal charges against Hall and Bishop relate to the
     same activities alleged in the Commission's civil action
     filed April 24, 1992. According to the Commission's
     complaint, Hall and Bishop participated in fraudulent sale
     of unregistered securities in the form of investment
     contracts in an investment pool purportedly formed to
     finance transactions in the import and export of
     commodities. Further, the complaint alleged that Hall,
     Bishop, and others, lied to investors concerning the use of
     investor proceeds, the profits and earnings to be realized,
     and the risks associated with the investment. Without
     admitting or denying the allegations, Hall and Bishop
     consented to be permanently enjoined from future violations
     of the registration and antifraud provisions of the federal
     securities laws on July 24, 1994 and December 23, 1993,
     respectively.[United States of America v. John Allen Hall,
     Jr., and Roger Alan Bishop, SA96-CR-254, USDC, WD/TX]        
     (LR-     )




STEPHEN WEBSTER
District Trial Counsel
Fort Worth District Office
817/978-6459