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U.S. SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 14666 / September 29, 1995

SECURITIES AND EXCHANGE COMMISSION v. HOMER W. FOSTER, ET AL., 
Tribunal d'Arrondissement de et Luxembourg

     The Commission announced that on September 25, 1995, the
Tribunal d'Arrondissement de et   Luxembourg ("Tribunal") issued
an order which froze all funds in the possession of the Dresdner
Bank of Luxembourg to which Homer W. Forster ("Forster") might
have any conceivable right of possession up to the sum of
$1,604,708 (the amount which Forster has been ordered to disgorge
in a prior Commission action in the United States).  

     The Commission had previously filed a Requ te en saisie-
arr t (Request for an attachment order) with the Tribunal.  In
its Request, the Commission sought an order attaching all funds
(up to $1,604,708) at the Dresdner Bank in an account opened in
the name of Billmey Assets Corp. ("Billmey"), a Panamanian
corporation, but for which Forster was the financial beneficiary.

     The Commission's proceeding in Luxembourg follows its action
against the Center For Financial Planning, Inc. ("CFP"), a
registered investment adviser, and Forster, CFP's president and
chief executive officer, in United States District Court for the
Northern District of Georgia.  In January 1994, the Commission
sued Forster and CFP, alleging that Forster had fraudulently
redeemed over $1.6 million in variable annuity contracts
belonging to six clients of CFP without the clients'
authorization or consent.  Forster had the proceeds wired to a
CFP bank account in Georgia from which he withdrew almost all of
the funds.  He then wired some of the customers' funds to
Billmey's account at the Dresdner Bank in Luxembourg.  In
September 1994, the District Court entered final judgments
against Forster and CFP which, inter alia, permanently enjoined
them from violating Section 10(b) of the Securities Exchange Act
of 1934 and Rule 10b-5 thereunder and Sections 206(1) and 206(2)
of the Investment Advisers Act of 1940, and ordered them to
disgorge $1,604,708.  (See Litigation Release Nos. 13937, 13969,
and 14313).