==========================================START OF PAGE 1======

         UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 15228 / January 28, 1997

SEC v. Alexander Charles Fuentes, et al., Case No. 96-703-CIV-
KING.

     The Securities and Exchange Commission announced that on
January 14, 1997, Honorable James Lawrence King, United States
District Judge for the Southern District of Florida, granted the
Commission's motion for summary judgment against defendant
Alexander Charles Fuentes ("Fuentes") and entered a final
judgment of permanent injunction ("final judgment") against him. 
The final judgment enjoins Fuentes from future violations of the
antifraud provisions of the federal securities laws.  In
addition, the final judgment orders Fuentes to disgorge
$2,459,022 and continues the asset freeze entered against Fuentes
on March 15, 1996, until he provides an accounting.

     Previously, on March 15, 1996, the Commission filed a civil
action against Fuentes and two companies controlled by him - -
Alcom Trading, Inc. ("Alcom") and Americorp & Associates, Inc.
("Americorp") - - seeking, ex parte, a temporary restraining
order and other emergency relief based on violations by the
defendants of Section 17(a) of the Securities Act of 1933,
Section 10(b) of the Securities Exchange Act of 1934, and Rule
10b-5, thereunder.  That day, the Court entered the TRO against
all Defendants.  Subsequently, the Court entered a preliminary
injunction and continuing asset freeze, by consent, against the
defendants.  On August 29, 1996, a final judgment of permanent
injunction was entered, upon default, against Alcom and
Americorp, enjoining them from violations of the antifraud
provisions of the federal securities laws and ordering them to
pay disgorgement in the amount of approximately $2.5 million and
civil money penalties in the amount of $500,000 each. 



         
==========================================START OF PAGE 2======

                               SUMMARY FOR NEWS DIGEST

               FINAL JUDGMENT OF PERMANENT INJUNCTION AND OTHER
RELIEF 
                      ENTERED AGAINST ALEXANDER CHARLES FUENTES

               On January 14, 1997, Honorable James Lawrence
King, United

               States District Judge for the Southern District of
Florida,

               granted the Commission's motion for summary
judgment against

               Alexander Charles Fuentes (Fuentes) and entered a
final

               judgment of permanent injunction (final judgment),
enjoining

               Fuentes from future violations of the antifraud
provisions

               of the federal securities laws.  The final
judgment also

               orders Fuentes to disgorge $2,459,022 and
continues the

               asset freeze entered against him on March 15,
1996, until

               Fuentes provides an accounting.

               Previously, on March 15, 1996, the Commission
filed a civil

               action against Fuentes and two companies he
controlled - -

               Alcom Trading, Inc. (Alcom) and Americorp &
Associates, Inc.

               (Americorp) - - seeking a temporary restraining
order and

               other emergency relief based on violations by the
defendants

               of Section 17(a) of the Securities Act of 1933,
Section

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

               5, thereunder.  That day, the Court entered the
TRO against

               all Defendants.  Subsequently, the Court entered a

               preliminary injunction and continuing asset
freeze, by

               consent, against the defendants.  On August 29,
1996, a

               final judgment of permanent injunction was
entered, upon

               default, against Alcom and Americorp, enjoining
them from

               violations of the antifraud provisions of the
federal

               securities laws and ordering them to pay
disgorgement and



          
==========================================START OF PAGE 3======

               civil money penalties. [SEC v. Alexander Charles
Fuentes, et

               al., Case No. 96-703-CIV-KING].



               Contact person: Trisha D. Sindler, SERO, (305)
982-6352 (A-

          1505)