UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 15881 \ September 15, 1998

SEC  V.  Jerald  F.  Albin,  et  al.  W.D. Mo., Case No. 98-0977-
CV-W-8, filed September 11, 1998

The  Commission  announced that, on September  11,  1998,  the
United  States District Court for  the  Western  District  of
Missouri  issued  a  Temporary Restraining  Order  (TRO)
temporarily barring Defendants Balanced Plan,  Inc., d/b/a
Balanced Plan Accumulation  Trust  (Trust)  and  Jerald F. Albin
(Albin) from  violations of the antifraud provisions of the
federal  securities  laws. The TRO also temporarily prohibits
Albin, the Trust, and relief defendant J.F. Albin Companies,
Ltd.  (Albin  Companies)  from  dissipating funds, pending a
hearing on the Commission's request for a preliminary injunction.

In its Complaint, the Commission alleges that Albin has raised
more than $1.7 million from at least 35 individuals who have
invested in promissory notes sold by the Trust.  The Trust and
most Trust investors are located in the Kansas City, Missouri
area.  The Commission alleges that the Trust is an ongoing Ponzi
scheme controlled by Albin and that Albin has misrepresented the
use of investor proceeds, misappropriated investor funds and
misrepresented the safety and liquidity of an investment with the
Trust.  In particular, the Commission alleges that Albin
misrepresented the use of investor proceeds to some investors by
falsely claiming investor funds would be used to purchase
investment vehicles like certificates of deposit, annuities,
bonds and other securities.  Contrary to Albin's representations,
the Commission alleges, Albin has directed Trust investor
proceeds to paying himself, paying Albin Companies' operating
expenses and repaying earlier investors.  According to the
Commission's allegations, Albin has also failed to disclose to
Trust investors that investors proceeds were used by him
personally and by Albin Companies for its operating expenses.
Further, the Commission alleges that Albin has represented that
the notes sold by the Trust were safe and liquid, when he knew
that they were not.  The Commission named Albin Companies as
relief defendant because, the Commission alleges, Albin Companies
has received more than $500,000 in ill-gotten gains.  The
Commission alleges in its Complaint that Albin and the Trust have
violated Section 17(a) of the Securities Act of 1933, Section
10(b) of the Securities Exchange Act of 1934 and Rule 10b-5
thereunder.

A hearing on the Commission's request for a preliminary
injunction is scheduled for September 18, 1998.