SECURITIES AND EXCHANGE COMMISSION

   Litigation Release No. 16060 / February 12, 1999

   SECURITIES AND EXCHANGE COMMISSION v. PETER BUCCHIERI AND
   DAVID S. WEIL (U.S.D.C. - S.D.N.Y.) 96 Civ. 8508 (LMM)

       The Securities and Exchange Commission ("Commission") announced
   today the filing on February 11, 1999 of final judgments on consent
   against Peter C. Bucchieri and David S. Weil in the United States
   District Court for the Southern District of New York.  The Commission's
   Complaint, filed on November 13, 1996, alleged, among other things, that
   Bucchieri and Weil, while acting as principals of Star Capital
   Management, Inc. ("Star Capital"), a now defunct investment adviser,
   misappropriated at least $1.2 million dollars from Star Capital’s
   clients through the sale of sham "pooled" real estate investments and
   the diversion of funds from clients’ bank accounts.  The complaint also
   alleged that Bucchieri and Weil failed to register Star Capital or
   themselves as investment advisers with the Commission and failed to
   comply with certain disclosure and recordkeeping requirements of the
   Investment Advisers Act of 1940 ("Advisers Act").  As a result,
   Bucchieri and Weil violated certain antifraud, registration, disclosure,
   and record-keeping provisions of the federal securities laws.
 
       Without admitting or denying the allegations in the Commission's
   Complaint, Bucchieri and Weil have each consented to permanent
   injunctions against future violations 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, and Sections 203(a), 206(1), 206(2), and 206(4)
   of the Advisers Act.  Additionally, Weil has consented to pay
   disgorgement in the amount of $454,306.26, plus pre-judgment interest
   thereon in the amount of $237,487.57.  These payments were waived based
   upon Weil’s demonstrated inability to pay.

       In related criminal proceedings Bucchieri and Weil were both convicted
   based upon their guilty pleas. United States v. Bucchieri, 96 Cr. 1070 (RJW); 
   United States v. Weil, 95 Cr. 1102 (MBM).  Bucchieri was sentenced to 33 
   months in prison and to pay $1,747,551.85 in restitution.  Weil was sentenced 
   to 14 months in prison and to pay restitution of $774,441.78.