==========================================START OF PAGE 1====== SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Litigation Release No. 15257 / February 13, 1997 U.S. v. Michael G. Swan, et al., CR-S-96-288; U.S. v. Damon Cozzolino, et al., CR-S-96-287; U.S. v. Jay Wells Nance, et al., CR-S-96-271 in the U.S. District Court for the District of Nevada The Commission announced today that twelve defendants have pleaded guilty in pending criminal cases brought by the United States Attorney for the District of Nevada. The defendants are Dennis Williams, a stock promoter from California and Las Vegas; Steve Wertman, a stock promoter from New York; Kevin Woodbridge, a stock promoter and financial public relations consultant from California; Edward Donner, Edward T. Shea, and Ronald Geraci, Sr., stockbrokers from Florida; Gerard King and Raymond Kripaitis, stockbrokers from New Jersey; and Trent Gribben, Ronald Troy Mikulka, Douglas Diggins, and Edward Bracken, stockbrokers from California. These defendants have pleaded guilty to charges which include racketeering, securities fraud, money laundering, illegal structuring of monetary transactions, and conspiracy to commit securities fraud and wire fraud in connection with the sales of the securities of Teletek, Inc., United Payphone Services, Inc., and Enrotek Corporation. The defendants have all agreed to cooperate with the government in continuing investigations and prosecution of others allegedly involved in the scheme. Three of the defendants who pleaded guilty, Woodbridge, Mikulka, and Gribben, were previously named as respondents in an administrative proceeding instituted by the Commission [In the Matter of John L. Banach, et al., Securities Exchange Act Release No. 38079 (December 23, 1996)]. This continuing criminal investigation has been conducted by the U.S. Attorney's Office with the assistance of Commission staff specially designated as Special Assistant U.S. Attorneys to that office.