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             U.S. SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 14714 / November 7, 1995

SECURITIES AND EXCHANGE COMMISSION V. AMERICAN BUSINESS
SECURITIES, INC., ET AL., Civil Action No. 94-4866 ER(JRx) (C.D.
Cal.)

     The Securities and Exchange Commission ("Commission")
announced that on November 1, 1995, following a trial before the
Court, Judge Edward Rafeedie of the United States District Court
for the Central District of California found that Defendants
Jeffrey L. Casperson and Western Energy Acquisitions, Inc.
("WEA") are jointly and severally liable with Defendants Jerome
L. Casperson and Joseph L. Casperson for $4,062,614.00 in
disgorgement plus prejudgment interest thereon, and that WEA is
further liable for a third tier civil penalty in the amount of
$4,062,614.00.  The Court had previously entered a Judgment of
Permanent Injunction against Jeffrey Casperson and WEA, which
permanently enjoined them from violations of the antifraud
provisions of 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.  Jeffrey Casperson and WEA consented, without
admitting or denying the allegations in the Complaint, to the
entry of the Judgment of Permanent Injunction.

     From mid-1989 to mid-1994, the defendants engaged in the
fraudulent offer and sale of oil and gas limited partnership and
trust investments.  The limited partnerships and trusts in some
cases did not own the wells as represented and returns to
investors were preset and not based on actual well production. 
Approximately $44.7 million was raised from over 1,000 investors,
most of whom are elderly.  

     The Court found that the fraudulent scheme was a single
operation under the control of Jeffrey Casperson.  Specifically, 
Jeffrey Casperson controlled Defendant American Business
Securities, Inc., the brokerage firm that sold the investments,
Defendant Southwest Energy Consultants, Inc., the issuer and
general partner, and Defendant WEA, the entity that was supposed
to purchased interests in oil and gas wells.  The Court also
found that Jeffrey Casperson and WEA acted jointly, in concert
and collectively with Defendants Jerome Casperson and Joseph
Casperson, with whom Jeffrey Casperson and WEA are jointly and
severally liable for disgorgement.  The Court further found that
WEA is liable for a third tier civil penalty based on fraudulent
conduct resulting in substantial losses to investors.