SECURITIES AND EXCHANGE COMMISSION
                                   Washington, D.C.

     LITIGATION RELEASE NO. 15487 / September 11, 1997

     ACCOUNTING AND AUDITING ENFORCEMENT
     RELEASE NO. 959 / September 11, 1997

     SECURITIES AND EXCHANGE COMMISSION v. MAURY H. JOSEPH AND ALLEN E. BENI,
     (Civil Action No. 97-2872) (S.D. FLA.)

          On September 8, 1997, the Commission filed a civil injunctive action
     against two former employees of Florida West Airlines, Inc., a bankrupt air
     cargo carrier which had been based in Miami, Florida.  The Commission's
     complaint alleges that between August 1993 and May 1994, Maury H. Joseph
     (Joseph), Florida West s former CEO, and Allen E. Beni (Beni), Florida
     West s former president, perpetrated a fraud on Florida West s shareholders
     and independent auditors by misrepresenting revenues and profits,
     falsifying financial statements and by causing Florida West to make
     materially false and misleading statements and omissions in its
     registration statement, prospectus and debenture offering memorandum.

          Specifically, the Complaint alleges that on January 21, 1994, Joseph
     and Beni caused Florida West to issue a press release which falsely
     represented that the Company expected to report profits of between $800,000
     and $1,000,000 for the quarter ended December 31, 1993, when, in fact, the
     Company had incurred a $2,000,000 loss and was rapidly deteriorating.
     Further, the Complaint alleges that Joseph and Beni committed a fraud on
     Florida West s independent auditors by instructing an employee to forge the
     purported buyers  signatures on two aircraft sales contracts which were
     subsequently presented to Florida West s auditors in connection with their
     year-end audit.  

          The Complaint also alleges that Joseph and Beni caused Florida West to
     file a registration statement and prospectus containing false statements
     and material omissions of fact concerning the scope of Florida West s
     maintenance and repair license, the undisclosed seizure of a Florida West
     aircraft and over $1.5 million in related party transactions between
     Florida West and a company owned by Beni s daughter.  Furthermore, the
     Complaint alleges that Joseph and Beni caused these misrepresentations and
     omissions to be repeated in the Company s debenture offering memorandum
     dated March 4, 1994.  In addition, the Complaint alleges that the debenture
     offering memorandum contained false financial statements which improperly
     recognized revenues from the two above-described, fabricated aircraft
     sales.  Finally, the Complaint alleges that the debenture offering
     memorandum failed to disclose that approximately $1.2 million or 16% of the
     proceeds raised in the offering was to be used to pay down existing debt
     owed to related parties.





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          The staff seeks to obtain permanent injunctions, officer and director
     bars and civil penalties against Joseph and Beni based on their violations
     of Section 17(a) of the Securities Act and Sections 10(b) and 13(b)(5) of
     the Exchange Act and Rules 10b-5, 13b2-1 and 13b2-2 thereunder.















































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