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             U.S. SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 15238 / January 31, 1997

SECURITIES AND EXCHANGE COMMISSION v. ROBERT C. WHITE
Civil Action No. S97-0145 WBS-PAN

     The U.S. Securities and Exchange Commission ("Commission")
announced that on January 30, 1997, the Commission filed a
complaint against Robert C. White ("White") in the United States
District Court for the Eastern District of California.

     The Commission's Complaint alleges that from 1988 through
October 1996, White fraudulently raised about $1.9 million from
over 30 investors to invest in stocks, bonds and mutual funds
through a securities dealer he was purportedly associated with,
PDR Group, Inc. ("PDR").  As alleged, White did not invest
investors' money in securities.  Rather, he misused investor
funds to pay returns to investors, to pay his personal expenses
and to fund his unrelated oil and gas business.  Moreover, PDR
has never been registered with the Commission in any capacity nor
has it ever executed a securities transaction.  

     The Complaint further alleges that White drafted and gave to
investors fictitious account statements that falsely showed
profitable trading in securities on behalf of investors.  The
account statements also falsely stated that investor accounts
were insured by the Securities Investor Protection Corporation
("SIPC"), when the accounts were not insured.  Additionally, many
of the securities shown on the account statements do not exist.

     Simultaneous with the filing of the Complaint, White
consented, without admitting or denying the allegations in the
Complaint, to the entry of a Final Judgment permanently enjoining
him from future violations of the antifraud provisions, Section
17(a) of the Securities Act of 1933 and Section 10(b) of the
Securities Exchange Act of 1934 and Rule 10b-5.

     In a related criminal action (Case No. CR-S-97-044 DFL), a
two count information charges White with:  one count of
securities fraud and one count of mail fraud.  If convicted,
White faces up to 15 years imprisonment and the payment of
restitution.

     The Commission wishes to thank SIPC, the U.S. Attorney's
Office in the Eastern District of California, and the Postal
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Inspection Service for their assistance in this case.