U.S. SECURITIES AND EXCHANGE COMMISSION

          Litigation Release No. 16126 /April 27, 1999

          SECURITIES AND EXCHANGE COMMISSION v. Michael A. Todd, Kim J.
          Brown,  Jerry L. Aubrey, Gary Jason McCrory, Gary L. Cleverly,
          Calvin J. Calvin, and Todd J. Taylor, Civil Action No. 98-6509 DT
          (SHx)(C.D. Cal.)

               The Securities and Exchange Commission announced that Judge
          Dickran Tevrizian of the United States District Court in Los
          Angeles entered judgment against Michael A. Todd and Kim J.
          Brown. The Court found that Todd and Brown orchestrated the
          fraudulent sale of stock in two companies, Casino Cruises Corp.
          and BRW Leasing Services, Inc., for the ostensible purpose of
          purchasing and operating a cruise ship featuring gambling in the
          coastal waters between ports in Southern California and Mexico.
          The Court found that Todd and Brown received the benefit of at
          least $459,905.63 of investor funds, both directly and
          indirectly.  The Court further found that $355,000 of the
          investor funds paid to Todd and Brown was deposited in an
          offshore bank account.  The defendants were ordered to pay
          disgorgement and prejudgment interest totaling $488,917.24.  Each
          defendant was also ordered to pay a civil penalty of $110,000.
               The Court previously entered judgment against Todd and Brown
          imposing 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.  Todd and Brown
          consented to the judgment without admitting or denying the
          allegations in the complaint.

               The Court also previously entered judgments against Jerry L.
          Aubrey, Gary Jason McCrory, Gary L. Cleverly, Calvin J. Calvin,
          and Todd J. Taylor.  The Court found these five individuals acted
          as brokers in the sale of stock in Casino Cruises Corp. and BRW
          Leasing Services, Inc. and failed to register with the Commission
          to act as brokers as required by federal law.  Each defendant was
          ordered to pay a civil penalty of $5,500 and permanently enjoined
          from future violations of Section 15(b) of the Securities
          Exchange Act of 1934.