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             U. S. SECURITIES AND EXCHANGE COMMISSION

INVESTMENT ADVISERS ACT OF 1940
Release No. 1541 / December 18, 1995

ADMINISTRATIVE PROCEEDING INSTITUTED AGAINST JOHN FRANCIS
D'ACQUISTO

     The Securities and Exchange Commission ("Commission")
announced that on December 18, 1995, it issued an Order
Instituting Public Administrative Proceeding Pursuant to Sections
203(e) and 203(f) of the Investment Advisers Act of 1940.  The
Order alleges that on September 20, 1995, the U.S. District
Court, Southern District of California, entered an Order Granting
Plaintiff's Motion for Summary Judgment permanently enjoining
D'Acquisto from further violations of various antifraud
provisions of the federal securities laws.

     The Commission's Complaint, filed on July 13, 1995, alleged
that from about November 1993 through approximately June 1994,
D'Acquisto, D'Acquisto Financial Group, Inc. ("DFG"), Doubleday
Trust ("Doubleday") and Thomas F. Goodman ("Goodman")
(collectively, "the Defendants") raised approximately $7 million
from 3 investors through schemes involving the fraudulent offer
and sale of "prime bank" and other securities.  The Commission
filed its Motion for Partial Summary Judgment on August 7, 1995.
The Court issued an Order Granting Plaintiff's Motion for Partial
Summary Judgment which permanently enjoined the Defendants from
future violations of the antifraud provisions of the federal
securities law.

     According to the findings of fact set forth in the Court's
Order Granting Plaintiff's Motion for Partial Summary Judgment,
when promoting the investment, D'Acquisto and the other
Defendants falsely represented that the investors would receive a
two percent guaranteed weekly return, that the Defendants were
sophisticated money managers, that the investors' funds were
secure, that the investment was low risk, and that the investment
principal and earnings would be returned to investors on a timely
basis.  In fact, the Defendants misused and misappropriated
investors' funds to purchase a contingent interest in a Mexican
minor league baseball team in a league which does not operate,
vacant land in Mexico and three racehorses.  The Defendants also
leveraged the zero coupon bonds purchased to "guarantee" the
principal contrary to the representations made to investors.  The
Court ordered D'Acquisto to disgorge his ill-gotten gains,
together with pre-judgment interest, resulting from the offer and
sale of securities in the investment schemes, in an amount to be
determined by the Court.  

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     A hearing will be scheduled to take evidence on the staff's
allegations and to afford the Respondent an opportunity to
present any defenses thereto.  The purpose of the hearing is to
determine whether the allegations are true and whether any
remedial action should be ordered by the Commission.


























































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