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                SECURITIES AND EXCHANGE COMMISSION
                         WASHINGTON, D.C.

Litigation Release No. 15318 / April 8, 1997

SECURITIES AND EXCHANGE COMMISSION V. THOMAS S. MACKIE, JR.,
PETER M. STANLEY, AND ANDREW S. FINK, United States District
Court for the Eastern District of New York, 95 Civ. 4852 (JS).

     On March 26, 1997, Judge Joanne Seybert of the United States
District Court for the Eastern District of New York entered a
Final Judgment of Permanent Injunction as to Peter M. Stanley
which permanently restrains and enjoins him from violating
Section 10(b) of the Securities Exchange Act of 1934 (the
"Exchange Act") and Rule 10b-5 promulgated thereunder.  Based
upon Stanley's demonstrated inability to pay, the judgment does
not impose a civil penalty.  Stanley consented to the entry of
the Final Judgment without admitting or denying the allegations
in the Complaint.

     On November 27, 1995, the Commission filed a Complaint in
the United States District Court for the Eastern District of New
York against Thomas S. Mackie, Peter M. Stanley, and Andrew S.
Fink alleging violations of the antifraud provisions of the
federal securities laws and, as to Stanley, seeking injunctive
relief and civil penalties.  The Complaint alleges that Mackie
(with the assistance of Stanley and Fink) fraudulently obtained
stock from the Bank of Keetoowah (a bank in Oklahoma), Sigma
Alpha Entertainment Group, Ltd. (a Philadelphia record company),
and Command Credit Corporation (a New York financial services
company) by falsely stating that he represented a Liechtenstein
trust named Stirling Trust and by misrepresenting the value of
Stirling Trust's assets and, accordingly, its ability to pay for
the securities.  The Complaint alleges that Mackie was never
authorized to represent Stirling Trust, which, in any case,
lacked assets sufficient to pay for the securities Mackie
acquired.  The Complaint further alleges that Stirling Trust had
been dissolved before Mackie received securities in any of the
transactions with the three entities mentioned.  

     The Complaint alleges that Stanley participated in Mackie's
fraud on Command Credit by introducing Mackie to the principals
of Command Credit and making false statements to them regarding
Stirling Trust and its assets, Mackie's ability to act for
Stirling Trust, and Mackie's success in engaging in similar
transactions in the past.  

     On November 27, 1996, the Court entered a default judgment
against Mackie permanently enjoining him from violating Section
10(b) of the Exchange Act and Rule 10b-5 and Sections 5 and 17(a)
of the Securities Act, and ordering him to pay a civil penalty of
$100,000.  On December 12, 1995, the Court entered a Final
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Judgment of Permanent Injunction against Fink (who provided
Mackie with false and misleading financial statements for
Stirling Trust) enjoining him from violating Section 10(b) of the
Exchange Act and 

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Rule 10b-5.  Now that judgment has been entered as to Stanley,
the case has been resolved as to all defendants.

Related Releases:   Securities Act Release 7162, L.R. 14732, and
                    L.R. 15179