UNITED STATES SECURITIES AND EXCHANGE COMMISSION

     LITIGATION RELEASE NO. 15751 / May 20, 1998

     SECURITIES AND EXCHANGE COMMISSION v. ACCELERATED FUNDING MORTGAGE CORP.,
     LAUREN D. BAUMANN, BALI FINANCIAL, INC., and ODYSSEY FINANCIAL GROUP, INC.,
     3:98CV1190-D, USDC, ND/TX (Dallas Division)

          The Commission announced today that it had obtained an emergency
     restraining order halting the fraudulent money raising efforts of  Lauren
     D. Baumann,  Accelerated Funding Mortgage Corp. ( Accelerated Funding ),
     Bali Financial, Inc. ( Bali Financial ), and Odyssey Financial Group, Inc.
     ( Odyssey Financial ).   According to the Commission s complaint, Ms.
     Baumann and the other defendants raised at least $5 million from the sale
     of promissory notes and investment contracts to investors in at least four
     states.  Investors were told that their investments would earn rates of
     return ranging from 101-273%, depending on the amount invested, and that
     their investment was  low-risk.   The complaint also alleges that the
     defendants are engaged in a Ponzi scheme whereby monies received from new
     investors are being used to pay high rates of return to earlier investors. 
     Moreover, instead of using investors  funds to purchase secondary deeds of
     trust as represented, the complaint alleges that defendant Baumann
     misappropriated at least $300,000 of investor funds for her personal use. 

          The temporary restraining order entered on May 19, 1998, by Judge 
     Sidney A. Fitzwater, enjoins the defendants and their principals from
     violating the securities laws, freezes their assets, requires them to
     account for investor monies, and provides for the appointment of a
     receiver.  The order also freezes the assets of relief defendants Balance
     Enterprises, L.L.C. and Balance Enterprises, J.V.

          In its complaint, the Commission alleges that defendants have violated
     Section 17(a) of the Securities Act of 1933 and Section 10(b) of the
     Securities Exchange Act of 1934, and Rule 10b-5 thereunder. The Commission
     also seeks an order permanently enjoining Accelerated Funding, Baumann,
     Bali Financial, and Odyssey Financial, an order requiring disgorgement of
     all wrongfully obtained profits, with prejudgment interest, and civil
     penalties against each defendant, as well as disgorgement with prejudgment
     interest against the relief defendants.














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     PONZI SCHEME HALTED BY TEMPORARY RESTRAINING ORDER 

          The Commission announced today that it had obtained an emergency
          restraining order halting the fraudulent money raising efforts of 
          Lauren D. Baumann,  Accelerated Funding Mortgage Corp. (Accelerated
          Funding), Bali Financial, Inc. (Bali Financial), and Odyssey Financial
          Group, Inc. (Odyssey Financial).   According to the Commission s
          complaint, Ms. Baumann and the other defendants raised at least $5
          million from the sale of promissory notes and investment contracts to
          investors in at least four states.  Investors were told that their
          investments would earn rates of return ranging from 101-273%,
          depending on the amount invested, and that their investment was  low-
          risk.   The complaint also alleges that the defendants are engaged in
          a Ponzi scheme whereby monies received from new investors are being
          used to pay high rates of return to earlier investors.  Moreover,
          instead of using investors  funds to purchase secondary deeds of trust
          as represented, the complaint alleges that defendant Baumann
          misappropriated at least $300,000 of investor funds for her personal
          use. 

          The temporary restraining order entered on May 19 by Judge Sidney A.
          Fitzwater, enjoins the defendants and their principals from violating
          the securities laws, freezes their assets, requires them to account
          for investor monies, and provides for the appointment of a receiver. 
          The order also freezes the assets of relief defendants Balance
          Enterprises, L.L.C. and Balance Enterprises, J.V.

          In its complaint, the Commission alleges that defendants have violated
          Section 17(a) of the Securities Act of 1933 and Section 10(b) of the
          Securities Exchange Act of 1934, and Rule 10b-5 thereunder. The
          Commission also seeks an order permanently enjoining Accelerated
          Funding, Baumann, Bali Financial, and Odyssey Financial, an order
          requiring disgorgement of all wrongfully obtained profits, with
          prejudgment interest, and civil penalties against each defendant, as
          well as disgorgement with prejudgment interest against the relief
          defendants.
          [SEC v. ACCELERATED FUNDING MORTGAGE CORP., LAUREN D. BAUMANN, BALI
          FINANCIAL, INC., and ODYSSEY FINANCIAL GROUP, INC., 3:98CV1190-D,
          USDC, ND/TX (Dallas Division)](LR-         )




     Joseph C. Matta
     Trial Counsel
     817/978-6435







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