United States of America
before the
Securities and Exchange Commission

Securities Exchange Act of 1934
Release No. 46550 / September 25, 2002

Administrative Proceeding
File No. 3-10899

I

The Securities and Exchange Commission ("Commission") deems it appropriate in the public interest that public administrative proceedings be instituted pursuant to Section 15(b) of the Securities Exchange Act of 1934 ("Exchange Act") against Respondent Gary Salter ("Salter" or "Respondent").

II

In anticipation of the institution of these proceedings, Salter has submitted an Offer of Settlement ("Offer") which the Commission has determined to accept. Solely for the purpose of this proceeding or any other proceeding brought by or on behalf of the Commission or in which the Commission is a party, prior to a hearing pursuant to the Commission's Rules of Practice, 17 C.F.R. §201.1 et seq., and without admitting or denying the findings contained in this Order, except as to jurisdiction of the Commission over Respondent and over the subject matter of this proceeding set forth in paragraph III.A., below, and except as to the entry of the conviction set forth in paragraph III.B., below, which are admitted. Respondent Salter, by his Offer, consents to the entry of the findings and remedial sanctions set forth below.

Accordingly, IT IS ORDERED that proceedings pursuant to Section 15(b) of the Exchange Act be, and hereby are, instituted.

III

On the basis of this Order Instituting Public Administrative Proceedings Pursuant to Section 15(b) of the Securities Exchange Act of 1934, Making Findings and Imposing Remedial Sanctions ("Order"), and Respondent's Offer, the Commission finds that:

1. At all relevant times, Salter, a stock promoter who did business individually and under the name Corporate Asset Management, participated in the offering of the securities of the following penny stock issuers: Entertainment and Gaming International, Inc., Linium Technology, Inc., Madison Sports and Entertainment Group, Inc., Malvy Technology, Inc., Musicsource U.S.A., Inc. and United States Exploration, Inc.
    
2. On August 31, 2000, Salter pled guilty to one count of a criminal indictment charging that he participated in a conspiracy to commit securities fraud, mail fraud and wire fraud. United States v. Gary Salter, Case No. 99-8110-001 CR-Hurley (S.D. Fla. 1999).
    
3. The criminal indictment alleged that from June 1993 through August 1999, Salter conspired to commit securities fraud, mail fraud and wire fraud by engaging in a fraudulent scheme to manipulate the market for the securities of Entertainment and Gaming International, Inc., Linium Technology, Inc., Madison Sports and Entertainment Group, Inc., Malvy Technology, Inc., Musicsource U.S.A., Inc. and United States Exploration, Inc. by paying undisclosed bribes to numerous brokers who agreed to fraudulently induce their clients to buy those securities.
    
4. On December 1, 2000, Salter was sentenced to 55 months in prison and ordered to pay a $1,000,000 fine and $318,579 in restitution and serve 3 years of probation upon his release from prison.

IV

In view of the foregoing, the Commission deems it appropriate in the public interest to impose the sanctions specified in the Respondent's Offer.

ACCORDINGLY, IT IS ORDERED that Respondent Salter be, and hereby is, barred from participating in any offering of a penny stock, including: acting as a promoter, finder, consultant, agent, or other person who engages in activities with a broker, dealer or issuer for purposes of the issuance or trading in any penny stock; or inducing or attempting to induce the purchase or sale of any penny stock.

By the Commission.

Jonathan G. Katz
Secretary

http://www.sec.gov/litigation/admin/34-46550.htm