UNITED STATES SECURITIES AND EXCHANGE COMMISSION

     LITIGATION RELEASE NO. 15432 / August 5, 1997

     SEC V. INSNET WORLD COMMUNICATIONS, INC.
     H-97-2525 (USDC/ND TX Houston Division)

          The Securities and Exchange Commission ("Commission") announced today
     the filing of a complaint on July 28, 1997 against Insnet World
     Communications, Inc., Frank Bravo, Jr. ("Bravo"), Jose Manuel Diaz-Salin,
     Scofield C. Berthelot, Jr. and SCB Resources, Inc., seeking emergency
     relief in the form of a temporary restraining order, asset freeze,
     preliminary and permanent injunctions, and other relief.  In its complaint,
     the Commission alleges that the defendants are engaged in ongoing
     violations of the antifraud and securities registration provisions of the
     federal securities laws.  Honorable Kenneth M. Hoyt granted the full ex
     parte relief sought by the Commission and set a hearing on the Commission's
     motion for preliminary injunction for August 7, 1997.

          The Commission's complaint alleges that the defendants are engaged in
     an ongoing fraudulent offer and sale of unregistered securities in the form
     of promissory notes issued by Insnet, the proceeds of which are purportedly
     used to purchase bulk long distance telephone time from major satellite
     suppliers and directly distribute prepaid telephone calling cards to the
     public.  It is further alleged that, since October 1995 to the present, the
     defendants have fraudulently raised at least $4.8 million from the sale of
     such securities to at least 216 investors residing in approximately 38
     states.  Moreover, instead of using the funds to purchase long distance
     telephone time and distribute telephone calling cards as represented, the
     complaint alleges that at least $2.8 million of investor funds have been
     paid to the individual defendants or companies that they control.  The
     complaint also indicates that investors have received "Ponzi" payments when
     investment funds from later investors were used to make quarterly interest
     payments and to repay investors when their notes matured.  The complaint
     also alleges that the defendants have refused to comply with Commission
     investigative subpoenas for testimony and documents concerning their
     business activities.

          The Commission charges the defendants with violations of Sections
     5(a), 5(c) and 17(a) of the Securities Act of 1933, and Section 10(b) of
     the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, and also
     requests an accounting, disgorgement of all illgotten gains, including
     prejudgment interest, and civil money penalties.  The complaint also
     includes Eduardo "Eddie" Grijalva, Bravo's nephew, as a defendant solely
     for purposes of relief.  The Commission seeks an asset freeze and
     disgorgement of the more than $694,000 Grijalva allegedly received from
     Insnet.






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