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                          UNITED STATES
                SECURITIES AND EXCHANGE COMMISSION
                          WASHINGTON, DC

Litigation Release No. 14955 / June 20, 1995

SEC v. Capaldo, Civ. No. 94-3530 (E.D.N.Y.) (ILG)

     Defendant Vincent F. Cestaro has consented to the entry of a
judgment against him in the above-captioned proceeding.  The
final judgment, entered on October 16, 1995, enjoins Mr. Cestaro
from future violations of the antifraud and reporting provisions
of the federal securities laws and orders him to disgorge ill-
gotten gains of $76,308, plus prejudgment interest for a total of
$122,764.  The disgorgement amount is to be paid pursuant to a
specified payment plan with the final installment due June 1,
1997.  The three other named defendants in the action entered
into settlements with the Commission at the time of the filing of
the complaint.  See Lit. Rel. No. 14172 (July 27, 1994).