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             U.S. SECURITIES AND EXCHANGE COMMISSION

Litigation Release No.  15134 /October 23, 1996

SECURITIES AND EXCHANGE COMMISSION v. WESTERN EXECUTIVE GROUP,
INC., CASH SYSTEMS USA, INC., CHARLES R. RIETZ, ROBERT R.
PARRISH, ROBERT J. STRUTH and R. STEPHEN EDGEL,
Civil Action No. 96-6938 GHK (JGx) (C.D. Cal.)

     The Securities and Exchange Commission ("Commission")
announced that on October 22, 1996, the Honorable George H. King,
United States District Court Judge for the Central District of
California, signed a Preliminary Injunction ("Order") halting a
Ponzi scheme involving investment contracts for the sale and
leaseback of automated teller machines ("ATMs").  The defendants 
offered the ATM investment program over the Internet to the
public and raised over $3.49 million from at least 132 investors 
nationwide.  This is the first lawsuit involving ATMs and the
largest lawsuit involving Internet investment fraud brought by
the Commission to date.

     In its Complaint, the Commission alleges that the defendants
have operated a Ponzi scheme from at least September 1995, when
they began offering and selling investments involving the sale
and leaseback of privately owned ATMs (ATMs not affiliated with
banks).  Through simultaneously executed agreements with both WEG
and Cash Systems, investors purchased ATMs from WEG for $23,950
and immediately leased them back to Cash Systems.  Investors were
guaranteed monthly lease payments for five years which payments
would allegedly return all of the investors' principal and a
yield of 17.4% per year.  However, as of July 1996, only 42 ATMs 
were operational even though the defendants had sold 195 ATMs,
and only 2 of the 42 ATMs made enough money to cover their
associated monthly lease payments and expenses.  Consequently,
the defendants were using new investor funds to pay existing
investors their monthly lease payments.

     The Commission obtained an order enjoining the following
entities and individuals from future violations of the antifraud 
and registration provisions of the federal securities laws:
Western Executive Group, Inc. ("WEG") headquartered in Reno,
Nevada; Cash Systems USA, Inc. ("Cash Systems") headquartered in 
Reno, Nevada; Charles R. Rietz ("Rietz") of Mesa, Arizona; Robert
R. Parrish ("Parrish") of Gilmer, Texas; Robert J. Struth
("Struth") of Southern California; and R. Stephen Edgel ("Edgel")
of Carmichael, California.  The Order also imposes an asset
freeze against WEG and Cash Systems and appoints a receiver over 
WEG and Cash Systems.

     The Complaint also alleges that the defendants solicited
investors nationwide through private investment seminars, mass
mailings, cold calling and over the Internet.  Defendants
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provided investors with offering materials which misrepresented
the number of ATMs operating and the amount of money the ATMs
made.  Additionally, the offering materials failed to disclose
that Rietz and Struth had previous orders entered against them
for violating certain securities laws.  The Complaint seeks a
permanent injunction, and other relief, including disgorgement
and civil penalties, against the defendants.

     The Complaint alleges that the defendants violated Sections 
5(a) and 5(c) of the Securities Act of 1933, as amended (the
"Securities Act"), the registration provisions, and Section 17(a)
of the Securities Act and Section 10(b) of the Securities
Exchange Act of 1934, as amended (the "Exchange Act"), and Rule
10b-5 thereunder, the antifraud provisions.  The Complaint also
charges Parrish, Struth and Edgel with violations of Section
15(a) of the Exchange Act, the broker-dealer registration
provisions.