UNITED STATES SECURITIES AND EXCHANGE COMMISSION

          Litigation Release No.  15992 / December  4, 1998

          SEC v. Jason S. Wall, 97 Civ. 6526 (JSR) (S.D.N.Y.)

               The Commission announced today that Jason S. Wall has
          consented to the entry of a final judgment permanently enjoining
          him from committing securities fraud.  The final judgment has
          been submitted for approval to the United States District Court
          for the Southern District of New York.

               The action was commenced on September 4, 1997, when the
          Commission filed a Complaint alleging that Wall had obtained over
          $200,000 from a then ongoing fraudulent offering of bogus
          securities.  According to the Complaint, Wall -- who held himself
          out to investors as a securities broker with Rothschild Global
          Investments, Inc. -- offered and sold supposed "private
          placements" in well-known companies and promised investors a
          return of twenty-five to thirty-five percent in eight weeks.  The
          Complaint alleged that Wall was not employed by Rothschild during
          the relevant period, never had access to the so-called private
          placements and, in fact, never invested the money as he
          represented he would do.  The Commission charged Wall with
          violating Section 17(a) of the Securities Act of 1933, and
          Section 10(b) of the Securities Exchange Act of 1934 and Rule
          10b-5 thereunder.  Wall consented to the entry of the final
          judgment without admitting or denying the allegations in the
          Complaint.

               In connection with the conduct charged in the Commission's
          Complaint, Wall also was convicted of one criminal count of
          securities fraud on May 19, 1998.  He was ordered to pay
          restitution in the amount of $425,154, and is currently serving a
          thirty-month prison sentence at the Allenwood Federal Prison Camp
          in Montgomery, Pennsylvania.

               For further information, see Litigation Release No. 15471.