Securities and Exchange Commission
     Washington, D.C.

     Litigation Release 15618 / January 14, 1998                 

     SECURITIES AND EXCHANGE COMMISSION V. J. SCOTT ESKIND
     (Civil Action No. 1: 97-CV-1790-CAM, N.D. Ga.)

     The Securities and Exchange Commission announced that on January 12, 1998,
     the Honorable Charles A. Moye, Jr., United States District Judge for the
     Northern District of Georgia, entered an order of permanent injunction and
     other relief as to defendant J. Scott Eskind ("Eskind"), of Atlanta,
     Georgia.  The order permanently enjoins and restrains Eskind from violating
     Section 17(a) of the Securities Act of 1933, Section 10(b) of the
     Securities Exchange Act of 1934 and Rule 10b-5 thereunder, and Section 206
     of the Investment Advisers Act of 1940.  Eskind was ordered to pay
     disgorgement in the amount of $542,532, representing the ill-gotten gains
     received by Eskind, and prejudgment interest thereon. Civil penalties will
     be set by the Court at a later date, upon motion by the Commission. 

     Eskind consented to the relief without admitting or denying the allegations
     set forth in a complaint, filed by the Commission on June 20, 1997.  In its
     complaint, the Commission alleged that, between November 1994 and May 1996,
     Eskind was secretary and treasurer of Tower Asset Management ("Tower"), the
     general partner and investment adviser of Asset Management Fund, L.P.
     ("Asset Management"), a limited partnership formed for the purpose of
     investing in securities.  In or before April 1996, Eskind misappropriated
     or converted approximately $246,000 of Asset Management's assets, and
     concealed his actions by falsifying the partnership's books.  When the
     thefts were discovered, Eskind was terminated by Tower.  

     After his dismissal from Tower, Eskind solicited investments from the
     public using Asset Management's offering documents.  Between December 1996
     and May 1997, Eskind induced or attempted to induce at least three
     investors to invest in what was falsely purported to be Asset Management. 
     Eskind persuaded two of the investors to invest, respectively, $500,000 and
     $150,000 in his scheme.  Eskind did not disclose to the investors that he
     had been terminated by Tower nor did he disclose that Asset Management had
     been dissolved.


            











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