SECURITIES AND EXCHANGE COMMISSION
   Washington, D.C.

   Litigation Release No. 16702 / September 14, 2000

Accounting and Auditing Enforcement Release No. 1301

   SEC v. JOHN F. "PETE" OLIVER, et al., No. 98 CV 00075 (DJS) (E.D. Mo.)

   SEC OBTAINS SETTLED JUDGMENTS AGAINST FINAL THREE DEFENDANTS IN OLIVER
   TRANSPORTATION ACCOUNTING FRAUD CASE

   The Securities and Exchange Commission has obtained settled final
   judgments against the remaining three defendants in its accounting
   fraud case against eight former officers and employees of Oliver
   Transportation, Inc., a now-defunct trucking company that operated out
   of Mexico, Missouri. The judgments, recently entered by the United
   States District Court for the Eastern District of Missouri, enjoin
   defendants Willard A. "Tony" Meador, his wife Julie McNabb-Meador, and
   Patrick M. Jacobi from violating the antifraud provisions of the
   Securities Act of 1933 (Section 17(a)) and the antifraud and
   record-falsification provisions of the Securities Exchange Act of 1934
   (Section 10(b) and 13(b)(5) and Rules 10b-5 and 13b2-1 thereunder).
   The Court's judgment against Willard Meador, who was Oliver
   Transportation's president, further enjoins Meador from violating an
   Exchange Act rule that prohibits corporate directors and officers from
   misleading company accountants (Rule 13b2-2), prohibits Meador from
   acting as an officer or director of any public company, and orders
   Meador to disgorge, with interest, $64,140 in illicit proceeds he
   received from his participation in the fraud. Based on the
   demonstrated inability of all three defendants to pay, the Court did
   not impose civil penalties on any of them and waived Meador's
   disgorgement obligation. All three defendants consented to entry of
   the judgments without admitting or denying the allegations of the
   Commission's complaint.

   The Commission's complaint, filed on December 16, 1998, alleged that
   from June 1993 through August 1995, the defendants unlawfully inflated
   the financial results of Oliver Transportation by fabricating customer
   orders for trucking services and recording phony accounts receivable
   that were reported in financial statements included in public filings
   and statements made by Oliver Transportation. According to the
   complaint, nearly half of Oliver Transportation's reported accounts
   receivable were fictitious by the time the fraud was uncovered in
   August 1995. When the Commission filed its complaint, five of the
   eight named defendants settled the case without admitting or denying
   the Commission's allegations. See Lit. Rel. 16003/AAER 1089 (December
   17, 1998). The settlements announced today conclude the litigation of