Litigation Release No. 15416 / July 18, 1997                   

     SEC v. Sunbelt Development Corporation, Wendell Rogers, Donald Hammond, and
     Willis Davis                                     
     (Civil Action No. CV 97-1387, W.D. La.)

          The Securities and Exchange Commission announced that a complaint for

     injunctive and other relief was filed by the Commission on July 15, 1997,

     in the United States District Court for the Western District of Louisiana,

     Alexandria Division, against Sunbelt Development Corporation ("Sunbelt"), a

     Louisiana corporation; Wendell Rogers ("Rogers"), director and co-founder

     of Sunbelt; Donald Hammond ("Hammond") and Willis Davis ("Davis"). 

          The complaint seeks to permanently enjoin defendants Sunbelt, Rogers,

     Hammond and Davis from violating Sections 5(a), 5(c) and 17(a)(1) through

     17(a)(3) of the Securities Act of 1933.  Further, the complaint seeks to

     restrain Sunbelt, Rogers, Hammond and Davis from violating Section 15(a)

     and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5

     thereunder.  The Commission also seeks an order requiring an accounting of

     all funds received from the sale of securities by the defendants during the

     scheme, disgorgement of all ill-gotten gains acquired by the defendants

     along with prejudgment interest, and civil penalties.

          The Commission's complaint alleges that violations of the antifraud

     provisions of the securities laws by the defendants occurred between mid-

     1993 and mid-1994.  Rogers, Hammond and Davis, all of whom are/were

     ministers, misrepresented or omitted material facts when they sold

     securities to members of their respective churches, to members of churches

     of the same denomination and to friends and relatives of the church

     members.  The defendants promised exorbitant returns on investments along

     with the return of the investors' principal when, in fact, Sunbelt was


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     actually operating a Ponzi scheme.  More than $3.5 million worth of

     unregistered securities were issued to over 200 individuals in at least 16

     states during the scheme.
















































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