SECURITIES AND EXCHANGE COMMISSION
                               Washington, D.C.  20549


     Securities Exchange Act of 1934
     Release No. 38946/August 18, 1997

     Administrative Proceeding File No. 3-9366

     IN THE MATTER OF THOMAS JOHN CLOUTIER


          On August 18, 1997, the Commission instituted public administrative
     proceedings against Thomas John Cloutier of Indian Wells, California.  In
     the Order, the Division of Enforcement alleges that in 1992 Cloutier
     participated in a scheme whereby he sold thousands of shares of the common
     stock of Teletek, Inc. to his unsuspecting customers in return for
     undisclosed compensation from affiliates of Teletek and that he arranged
     for other registered representatives to receive undisclosed payments in
     return for sales to their customers of Teletek stock.  Teletek, which has
     its principal office in Las Vegas, Nevada, markets international telephone
     calling services.  

     The Division alleges that Cloutier willfully violated antifraud provisions
     under the Securities Act of 1933 and the Securities Exchange Act of 1934. 
     The Order also alleges that Cloutier was indicted in U.S. v. Thomas John
     Cloutier, CR-S-97-199 (D. Nev. filed August 13, 1997), and that two related
     criminal proceedings currently are pending in U.S. District Court for the
     District of Nevada.  U.S. v. Michael G. Swan, et al., CR-S-96-288 (D. Nev.
     filed November 6, 1996); U.S. v. Damon Cozzolino, et al., CR-S-96-287 (D.
     Nev. filed November 6, 1996).

          The proceedings were instituted to determine whether the allegations
     are true and to afford the respondent an opportunity to present any
     defenses, and to determine what, if any, remedial action is appropriate.


















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