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         UNITED STATES SECURITIES AND EXCHANGE COMMISSION


Litigation Release No. 14800 / January 29, 1996

SECURITIES AND EXCHANGE COMMISSION v. CONTINENTAL WIRELESS CABLE
TELEVISION, INC., ROBIN J. MCPHERSON, JAY R. BISHOP AND GENE R.
CARDENAZ, Civil Action No. 94-0737S (BTM) (S.D. Cal.)

     The Securities and Exchange Commission announced that on
January 22, 1996, the Honorable Edward J. Schwartz, United States
District Judge for the Southern District of California, granted
the Commission's motion for summary judgment of disgorgement,
which sought $995,000, plus prejudgment interest thereon, against
Defendant Jay R. Bishop.  Previously, on September 20, 1995, the
Court entered an Order granting the Commission's motion for
summary judgment against Bishop, and permanently enjoining Bishop
from further violations of the securities registration provisions
of Sections 5(a) and 5(c) of the Securities Act of 1933, the
antifraud provisions of Section 17(a) of the Securities Act and
Section 10(b) of the Securities Exchange Act of 1934 and Rule
10b-5 thereunder, and the broker-dealer registration provisions
of Section 15(a)(1) of the Exchange Act.

     The Commission's complaint, filed May 11, 1994, alleged that
Defendants Bishop, Robin J. McPherson and Gene R. Cardenaz,
through Defendant Continental Wireless Cable Television, Inc.,
fraudulently offered and sold securities in the form of interests
in two wireless cable television "general partnerships." 
Defendants Bishop, McPherson and Cardenaz raised approximately
$39 million from 2,574 investors nationwide, misrepresenting to
investors that the investors' monies would be used to acquire,
develop and market wireless cable televisions systems in
Nashville, Tennessee and New Orleans, Louisiana.  In fact, the
Defendants used only approximately $4 million to acquire, develop
and market the wireless cable television systems, and
misappropriated and misused the remainder of investor monies to
pay Continental's own overhead expenses in selling the
partnership interests, including to pay at least $11 million in
sales commissions and salaries, and to "loan" officers Bishop,
McPherson and Cardenaz approximately $1 million each.  

     McPherson and Cardenaz were previously enjoined from future
violations of the above provisions by orders entered August 7,
1995, pursuant to their consents, and ordered to disgorge their
ill-gotten gains, with the exception of amounts that they had
demonstrated they were unable to pay.  The action is ongoing with
respect to Defendant Continental Wireless Cable Television, Inc.,
which has been in receivership pursuant to Court order since July
12, 1995.  For further information see LR-14118, LR-14163, LR-
14630 and LR-14690.  
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SUMMARY JUDGMENT OF DISGORGEMENT GRANTED AGAINST JAY R. BISHOP,
FORMER CEO OF CONTINENTAL WIRELESS CABLE TELEVISION, INC.

     On January 22, 1996, the Honorable Edward J. Schwartz,
     United States District Judge for the Southern District of
     California, granted the Commission's motion for summary
     judgment of disgorgement, which sought $995,000 plus
     prejudgment interest, against Defendant Jay R. Bishop. 
     Previously, on September 20, 1995, the Court entered an
     order permanently enjoining Bishop from further violations
     of the securities registration provisions of Sections 5(a)
     and 5(c) of the Securities Act of 1933, the antifraud
     provisions of Section 17(a) of the Securities Act and
     Section 10(b) of the Securities Exchange Act of 1934 and
     Rule 10b-5 thereunder, and the broker-dealer registration
     provisions of Section 15(a)(1) of the Exchange Act. 

     The Commission's complaint, filed May 11, 1994, alleged that
     the Defendants fraudulently offered and sold securities in
     the form of interests in two wireless cable television
     "general partnerships."  The Defendants misappropriated and
     misused approximately 75% of the $39 million raised from
     2,574 investors.  McPherson and Cardenaz were previously
     enjoined from violating the above provisions on August 7,
     1995, pursuant to their consents, and ordered to disgorge
     their ill-gotten gains, except for amounts they had
     demonstrated they were unable to pay.  See LR-14118, LR-
     14163, LR-14630 and LR 14690.  [SEC v. Continental Wireless
     Cable Television, Inc., et al., Civil Action No. 94-0737S
     (BTM) (S.D. Cal.)]          (LR-     )