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UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 14654/ September 27, 1995

SEC v. JODY M. FELTERMAN, Civil No. 95-1719 (W. D. La.)

     The Commission announced that on September 25, 1995
defendant Jody M. Felterman ("Felterman") of Patterson,
Louisiana, was permanently enjoined in the United States District
Court (Western Division) in Lafayette, Louisiana, by consent,
from further violations of the registration and anti-fraud
provisions for conducting a Ponzi scheme during the period 1989
through 1994 by issuing unregistered promissory notes
guaranteeing profits ranging from 10-14 percent.  While a
registered representative of a broker-dealer, defendant Felterman
raised approximately $13 million from 150 investors by falsely
representing that he was using investor monies to invest in gold
and gemstones in international markets and reaping huge profits. 
Payments of disgorgement, pre-judgment interest and civil
penalties were waived due to defendant Felterman's financial
inability to pay.

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