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SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 14718 / November 14, 1995

SEC v. Robert Cord Beatty, et al., Civil Action No. 2:95CV 0886S
(USDC UT).

     The Securities and Exchange Commission announced that on    
 November 2, 1995, the Honorable Judge David Sam,   U.S. District
Court Judge, District of Utah, entered Judgments of Permanent
Injunction against Robert Cord Beatty, Leroy Max Campbell, Lyle
John Boss, and Thelma Mae Cannon Caliebe.  The defendants were
enjoined from further violations of registration and antifraud
provisions of the federal securities laws by their offer and sale
of nonexistent "risk free" prime bank instruments.  The
defendants consented to the entry of the Judgments of Permanent
Injunction without admitting or denying the Commission's
allegations.  The court waived disgorgement and determined not to
impose civil penalties based on the demonstrated inability of the
defendants to pay.

     The Commission's September 25, 1995 Complaint alleged
that from February 1992 until February 1993, the defendants,
individually and through various entity names, offered and sold a
fraudulent investment for which funds were raised from investors
purportedly to buy and sell putative "prime bank" instruments
such as documentary letters of credit, standby letters of credit,
prime bank notes, or prime bank guarantees issued from the "top
100 world banks."  The Complaint also alleged that in connection
with the offer and sale of these instruments, the defendants
falsely represented that the transactions were "risk free" and
would earn a return of 10 percent to 25 percent monthly. 
According to the Complaint, the defendants diverted most of the
$2 million raised from investors to their own uses without
informing the investors.