UNITED STATES SECURITIES AND EXCHANGE COMMISSION

     LITIGATION RELEASE NO. 15623 / January 22, 1998

     SEC V. INSNET WORLD COMMUNICATIONS, INC., ET AL
     H-97-2525 (USDC/ND TX Houston Division)

          The Securities and Exchange Commission ("Commission") announced that
     on December 22, 1997, the Honorable Sim Lake, United States District Judge,
     entered an Order of Permanent Injunction and Other Equitable Relief by
     Default against defendant SCB Resources, Inc. ("SCB") and ordered
     disgorgement in the amount of $533,272.00 together with prejudgment
     interest in the amount of $69,759.83.  Additionally, on January 9, 1998,
     Judge Lake entered Orders of Permanent Injunction and Other Equitable
     Relief by Default against Insnet World Communications, Inc. ("Insnet"),
     Jose Manuel Diaz-Salin ("Salin") and Scofield Berthelot, Jr. ("Berthelot"). 
     Judge Lake ordered disgorgement to be paid as follows:  Insnet was ordered
     to pay $4,919,436.00, jointly and severally with the other defendants, with
     prejudgment interest in the amount of $532,945.66; Salin was ordered to pay
     $1,386,473.55 with prejudgment interest in the amount of $131,298.80; and
     Berthelot was ordered to pay $32,600.00 with prejudgment interest in the
     amount of $3,622.75.

          The Commission charged in its Complaint, initially filed as a
     temporary restraining order on July 28, 1997, against Insnet, SCB Salin,
     Berthelot, Frank Bravo, Jr. ("Bravo"), and Eduardo "Eddie" Grijalva
     ("Grijalva"), that the defendants violated Sections 5(a), 5(c) and 17(a) of
     the Securities Act of 1933, and Section 10(b) of the Securities Exchange
     Act of 1934 and Rule 10b-5 thereunder.  The Commission sought emergency
     relief in the form of a temporary restraining order, asset freeze,
     preliminary and permanent injunctions, and other relief.  Grijalva, Bravo's
     nephew, was named as a defendant solely for the purpose of relief.  

          The Commission's Complaint alleged that the defendants were engaged in
     an ongoing fraudulent offer and sale of unregistered securities in the form
     of promissory notes issued by Insnet, the proceeds of which were
     purportedly used to purchase bulk long distance telephone time from major
     satellite suppliers and directly distribute prepaid telephone calling cards
     to the public.  It is further alleged that, since October 1995 to the
     present, the defendants have fraudulently raised at least $4.8 million from
     the sale of such securities to at least 216 investors residing in
     approximately 38 states.  Moreover, instead of using the funds to purchase
     long distance telephone time and distribute telephone calling cards as
     represented, the Complaint alleges that at least $2.8 million of investor
     funds have been paid to the individual defendants or companies that they
     control.  The Complaint also indicated that investors have received "Ponzi"
     payments when investment funds from later investors were used to make
     quarterly interest payments and to repay investors when their notes
     matured. 




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