UNITED STATES SECURITIES AND EXCHANGE COMMISSION


     Litigation Release No. 15574 / November 26, 1997

     SECURITIES AND EXCHANGE COMMISSION v. KS RESOURCES, et al., Civil Action
     No. 95-8608 WDK (AJWx)(C.D. Cal.).

          The Securities and Exchange Commission announced that on November 14,
     1997, the Honorable William D. Keller, United States District Judge for the
     Central District of California, approved a settlement between the
     Securities and Exchange Commission and defendant Mark D. Seigel.  Seigel
     resides in Beverly Hills, California.  Seigel, without admitting or denying
     the Commission's allegations, consented to a permanent injunction from
     future antifraud securities law violations.  Seigel also consented to pay
     disgorgement of $1,068,125 and prejudgment interest of $74,365.08 totaling
     $1,142,490.08.  Seigel demonstrated through sworn statements of his
     financial condition that he did not possess sufficient assets with which to
     pay the entire judgment.  To satisfy this judgment, Seigel has been ordered
     to turn over the bulk of his assets, valued at $317,496.81 to the Court-
     appointed Permanent Receiver, Arthur N. Greenberg, Esq.

          The Commission's complaint, filed December 19, 1995, alleged that
     Seigel and other defendants fraudulently offered securities in the form of
     29 oil and gas limited partnerships from May 1993 to December 19, 1995. 
     The complaint alleged that Seigel and other defendants ran a Ponzi-like
     scheme that paid investor returns with other investors' money.  This Ponzi-
     like scheme raised approximately $34,934,000 from investors, many of whom
     are elderly.  The complaint further alleged that Seigel and other
     defendants variously violated 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.  

     See Litigation Release Nos. LR-14766, 14866, 15331, 15525, and 15567.  For
     more information, please contact Marianne Wisner, Staff Attorney, at (213)
     965-3983 or James A. Howell, Regional Trial Counsel, at (213) 965-3877.






















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