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         UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 15347 / April 23, 1997

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 (CGA) (S.D. Cal.)

     The Securities and Exchange Commission announced that on
April 21, 1997, it filed a motion for judgment of civil contempt
against Defendant Jay R. Bishop.  The motion is based upon
Bishop's failure to pay any but a small portion of the $995,000
in disgorgement and $128,654.44 in prejudgment interest thereon
he was ordered to pay pursuant to the final judgment of
disgorgement entered against him on February 12, 1996, by the
Honorable Edward J. Schwartz, United States District Judge for
the Southern District of California, following the Court granting
the Commission's motion for summary judgment.  The Commission's
motion seeks a finding from the Court that Bishop is in contempt
of the Judgment, and an order that Bishop be incarcerated until
he complies with the judgment.

     Previously, on September 20, 1995, the Court entered an
Order granting the Commission's motion for summary judgment
against Bishop, 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.  

     McPherson and Cardenaz were 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.  On April 17, 1997, the
Court entered an order permanently enjoining Continental,
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pursuant to its consent, from violations of the above provisions,
and ordering that Continental, which is operated by a Court-
appointed Receiver, disgorge all assets and monies in the
receivership estate, less any Court-approved fees and expenses,
pursuant to a distribution plan to be proposed and approved by
the Court.  For further information see LR-14118, LR-14163, LR-
14630, LR-14690 and LR-14800.