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                     UNITED STATES OF AMERICA
                            before the
                SECURITIES AND EXCHANGE COMMISSION


SECURITIES EXCHANGE ACT OF 1934
Release No. 37545 / August 8, 1996

ADMINISTRATIVE PROCEEDING 
File No. 3-9058

-------------------------
                         :    ORDER INSTITUTING ADMINISTRA-
In the Matter of         :    TIVE PROCEEDINGS PURSUANT TO
                         :    SECTIONS 15(b) AND 19(h) OF
Richard Jenkins,         :    THE SECURITIES EXCHANGE ACT
                         :    OF 1934, MAKING FINDINGS AND
          Respondent.    :    IMPOSING REMEDIAL SANCTIONS    
------------------------ :
                             

                                I

     The Securities and Exchange Commission ("Commission") deems
it appropriate and in the public interest that public
administrative proceedings be instituted pursuant to Sections
15(b) and 19(h) of the Securities Exchange Act of 1934 ("Exchange
Act") against Respondent Richard Jenkins ("Jenkins" or
"Respondent").

                                II

     In anticipation of the institution of these proceedings,
Jenkins has submitted an Offer of Settlement ("Offer") for the
purpose of resolving these proceedings, which Offer the
Commission has determined to accept.  Solely for the purpose of
these proceedings and any other proceedings brought by or on
behalf of the Commission or to which the Commission is a party,
Respondent, by his Offer, consents to the entry of this Order
Instituting Proceedings Pursuant To Sections 15(b) And 19(h) of
the Securities Exchange Act of 1934, Making Findings And Imposing
Remedial Sanctions ("Order"), admits the jurisdiction of the
Commission and, without admitting or denying the findings set
forth herein, except with respect to paragraphs III.A. and D.,
below, which are admitted, consents to the entry of the findings
and remedial sanctions set forth below.

     Accordingly, it is ordered that proceedings pursuant to
Sections 15(b) and 19(h) of the Exchange Act be, and hereby are,
instituted.
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                               III

     On the basis of this Order and Respondent's Offer, the
Commission finds that: 

     A.   From at least July 26, 1993 until at least November
          1994, Jenkins was the president of Marada Capital, Inc.
          ("Marada Capital").

     B.   Marada Capital, a Florida corporation, operated as an
          unregistered broker-dealer and had offices in at least
          seven states.  Jenkins was a control person of Marada
          Capital.

     C.   Jenkins: (i) provided Marada Capital vice presidents
          with documents and information which was then passed on
          to prospective investors and investors; (ii) was
          responsible for overseeing Marada Capital's sales
          force; and (iii) was responsible for hiring and firing
          independent contractors who operated under the name
          Marada Capital for purposes of selling the stock
          ("Marada stock") of subsidiaries of Marada Global
          Corporation ("Marada Global").  These salesmen were
          given the titles of "vice presidents" of Marada
          Capital. 

     D.   On July 23, 1996, a final judgment of permanent
          injunction was entered, by consent, against Jenkins,
          permanently enjoining him, directly, indirectly and/or
          as a control person, from violations of Sections 5(a),
          5(c) and 17(a) of the Securities Act of 1933, Sections
          10(b), 15(a)(1) and 15(g) of the Exchange Act, and
          Rules 10b-5, 15g-2, 15g-4, 15g-5 and 15g-9, thereunder.

          SEC v. Richard Jenkins, Case No. 96-1347-CIV-T-23C
          (M.D. Fla.). 

     E.   The Commission's complaint alleged, in part, that
          Jenkins, in connection with the offer, purchase and
          sale of penny stocks, violated the registration,
          antifraud, broker-dealer registration and penny stock
          disclosure provisions of the federal securities laws. 
          In particular, the complaint alleged that Jenkins and
          Marada Capital made misrepresentations to investors and
          prospective investors concerning, among other things,
          purported agreements between Marada Global and foreign
          governments to operate an airline and develop and
          operate hotels and casinos and the ability of Marada
          stock to be listed on the NASDAQ stock exchange.  The
          complaint further alleged that Jenkins and Marada
          Capital omitted to state material facts including that:
          (a) Marada Capital's "vice presidents" had no duties
          other than to sell Marada stock and that they received
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          up to 40% commissions on their sales; (b) key officers
          and/or directors of Marada Global and Marada Capital
          had an extensive aggregate disciplinary history; (c)
          there were serious impediments to Marada Global having
          its stock listed on NASDAQ; and (d) Marada Global did
          not own its only substantial asset free-and-clear.

                                IV

     In view of the foregoing, the Commission deems it
appropriate and in the public interest to impose the sanctions
specified in the Respondent's Offer.

     ACCORDINGLY, IT IS FURTHER ORDERED that:

     A.   Jenkins is hereby barred from association with any
broker, dealer, municipal securities dealer, investment adviser,
or investment company.

     B.   Jenkins is hereby barred from participating in any
offering of a penny stock.


     By the Commission.




                                        Jonathan G. Katz
                                        Secretary