SECURITIES EXCHANGE ACT OF 1934
Release No. 41873 / September 14, 1999

ADMINISTRATIVE PROCEEDING
File No. 3-10012

In the Matter of

Dominic Scacci,
Respondent.

ORDER INSTITUTING
ADMINISTRATIVE PROCEEDINGS
PURSUANT TO SECTION 15(b)
OF THE SECURITIES
EXCHANGE ACT OF 1934, MAKING
FINDINGS AND IMPOSING
REMEDIAL SANCTIONS

I.

The Securities and Exchange Commission ("Commission") deems it appropriate and in the public interest that public administrative proceedings be instituted pursuant to Section 15(b) of the Securities Exchange Act of 1934 ("Exchange Act") against Respondent Dominic Scacci ("Scacci" or "Respondent").

II.

In anticipation of the institution of these proceedings, Scacci has submitted an Offer of Settlement ("Offer") for the purpose of resolving these proceedings, which Offer the Commission has determined to accept. Solely for the purpose of these proceedings and any other proceedings brought by or on behalf of the Commission or to which the Commission is a party, Respondent, by his Offer, consents to the entry of this Order Instituting Proceedings Pursuant to Section 15(b) of the Securities Exchange Act of 1934, Making Findings and Imposing Remedial Sanctions ("Order"), admits the jurisdiction of the Commission and, without admitting or denying the findings set forth herein, except with respect to paragraph III.C., below, which is admitted, consents to the entry of the findings and remedial sanctions set forth below.

Accordingly, it is ordered that proceedings pursuant to Section 15(b) of the Exchange Act be, and hereby are, instituted.

III.

On the basis of Respondent's Offer, the Commission finds that:

  1. OmniGene Development, Inc. formerly known as OmniGene Diagnostics, Inc. ("ODI" or "the Company"), is a development stage company engaged in the business of providing dental diagnostic testing services. ODI was incorporated under the laws of the State of Florida and maintained offices in West Palm Beach, Florida.

  2. Scacci, age 57, resides in West Palm Beach, Florida. Scacci was ODI's president and chief executive officer from its inception until his resignation in January 1997.

  3. On September 8, 1999, a final judgment of permanent injunction was entered against Scacci in the United States District Court for the Southern District of Florida, SEC v. Omnigene Development, Inc. f/k/a Omnigene Diagnostics, Inc., et al., Case No. 98-8672-CIV-RYSKAMP (S.D. Fla.). The final judgment permanently enjoined Scacci from further violations of Section 17(a) of the Securities Act of 1933 ("Securities Act") and Section 10(b) of the Exchange Act and Rule 10b-5 thereunder.

  4. In its complaint, the Commission alleged that from approximately April 1996 through November 1996, in a classic "pump and dump" scheme, Scacci fraudulently inflated the price of ODI stock while selling shares into the public market. Specifically, the complaint alleges that Scacci made and caused ODI to make, misrepresentations concerning ODI's assets, revenues, business relationships and projected stock price. According to the complaint, these misrepresentations were made in ODI's investor packages, press releases, radio broadcasts and Internet communications in violation of the antifraud provisions of the federal securities laws.

  5. At the time Respondent committed the violations discussed above, he was participating in an offering of penny stock.

IV.

In view of the foregoing, the Commission deems it appropriate and in the public interest to impose the sanctions specified in Respondent's Offer.

ACCORDINGLY, IT IS ORDERED that Scacci is hereby barred from participation in any offering of a penny stock.

By the Commission.

Jonathan G. Katz

Secretary