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         UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 15214 / January 15, 1997

Securities and Exchange Commission v. Anthony Sarivola, et al.
(U.S.D.C. - S.D.N.Y.)  95 Civ. 9270 (RPP)

     The Securities and Exchange Commission ("Commission")
announced the entry on December 12, 1996 of final judgments on
consent against Mark Anthony ("Anthony") and Michelle Suppes
("Suppes") and Suppes Securities, Inc. ("Suppes Securities"). 
Without admitting or denying the allegations in the Commission's
Complaint, Suppes and Anthony consented to permanent injunctions
against future violations of certain antifraud provisions of the
federal securities laws.  Suppes was also enjoined from future
violation of the registration provisions of the federal
securities laws.  Anthony and Suppes were jointly and severally
ordered to disgorge $122,394.79, representing gains from the
conduct alleged and prejudgment interest.  Without admitting or
denying the allegations in the Complaint, Suppes Securities
consented to a judgment holding it also jointly and severally
liable for $42,799.56 of the disgorgement amount.  Anthony and
Suppes were ordered to pay civil penalties in the amounts of
$50,000 and $25,000, respectively.

     The Complaint alleged a complex securities fraud in which
co-defendant Anthony Sarivola ("Sarivola") masterminded a scheme
to inflate artificially the reported assets of Leona Enterprises,
Inc. ("Leona").  The Complaint alleged Suppes and Anthony
participated in the scheme in the following manner:  Anthony
received undisclosed compensation, in the form of Leona stock
issued in the name of his nominees, which benefitted Anthony and
Suppes.  Suppes and Anthony recommended Leona securities to their
customers without a reasonable basis for such recommendations and
without disclosing Anthony's receipt of Leona stock.  Another
Sarivola-controlled company deposited unregistered shares of
Leona stock into an account at Suppes Securities.  Those shares
were distributed to the public in violation of the registration
provisions of the Securities Act of 1933 ("Securities Act").
 
     On January 15, 1997, the Commission instituted and
simultaneously settled an administrative proceeding against
Anthony and Suppes in which they consented to the issuance of an
Order Instituting Proceedings, Making Findings, and Imposing
Remedial Sanctions ("Order") without admitting or denying the
Commission's findings.  The Order bars Anthony from association
with any broker, dealer, municipal securities dealer, investment
adviser or investment company and from participating in any
offering of penny stock.  The Order bars Suppes from association
with any broker, dealer, municipal securities dealer, investment
adviser or investment company, with the right to reapply for
association after two years.
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                              - 2 -

     Also on January 15, 1997, the Commission instituted and
simultaneously settled an administrative proceeding against
Suppes Securities.  Suppes Securities consented to the issuance
of an Order Instituting Proceedings, Making Findings, Cease and
Desist Order, and Order Imposing Sanctions (the "Suppes
Securities Order"), without admitting or denying the Commission's
findings.  The Suppes Securities Order censures Suppes
Securities, orders it to cease and desist from violations of the
registration provisions of the Securities Act and certain
antifraud provisions of the Securities Exchange Act of 1934. 
Additionally, Suppes Securities is ordered to retain an
independent consultant to conduct a review of Suppes Securities'
policies, practices, and procedures.