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UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 14748 / December 6, 1995 

SECURITIES AND EXCHANGE COMMISSION v. KENNETH MITCHELL WIGGINS,
JR. AND WIGGINS & COMPANY, INC., Civil Action No. C-94-1455WD
(W.D. Wa. 1994).

     The Securities and Exchange Commission announced that on
December 4, 1995 the Honorable William L. Dwyer, United States
District Court Judge for the Western District of Washington,
entered a Final Judgment of Disgorgement, Prejudgment Interest
and Civil Penalties against both Kenneth Mitchell Wiggins, Jr.
("Wiggins") and Wiggins & Company, Inc. ("Wiggins & Co.")
(collectively, the "Defendants") who consented to the entry of
the Final Judgment without admitting or denying the Commission's
allegations.  Pursuant to the Final Judgment, Wiggins and Wiggins
& Co. will pay disgorgement of $800,500, and prejudgment interest
of $631,895.12, in an amount totalling $1,432,395.12.  Wiggins
must also pay civil penalties of $180,500.00.  The amounts of
disgorgement, prejudgment interest and civil penalties were
determined pursuant to the court's previous Order of Permanent
Injunction which permanently enjoined Wiggins and Wiggins & Co.
from violations of the antifraud provisions of the securities
laws. 
     The Commission's complaint, filed September 30, 1994,
alleges that Wiggins & Wiggins & Co. fraudulently offered and
sold securities in the form of promissory notes and assignments
of fractionalized interests in three Peruvian gold bonds issued
in 1875.  The Commission further alleges that from March 1987
through June 1992, Wiggins, through Wiggins & Co., raised
approximately $950,000 from 19 investors.  When soliciting
investors, the Defendants misrepresented and failed to state
material facts concerning their ownership and control of the
bonds and their right to assign interests in the bonds.  

     The Commission would like to acknowledge the assistance
provided in connection with this investigation by the Peruvian
Ministry of Finance and Economics, which, in response to a
request from the SEC, issued a Diplomatic Note stating that the
bonds in question expired in 1952 and are therefore worthless. 
The Commission would also like to thank the Economic Section of
the United States Embassy in Lima, Peru for their efforts in
obtaining the Diplomatic Note.