SECURITIES AND EXCHANGE COMMISSION

          Litigation Release 16087A /March 17, 1999

          SEC v. Cihaco International, Inc., Hartmut Haussecker, Bartley
          Carson Healy, and Tanya Llanes-Tarver, Civil Action No. 2:97CV-
          0659K (USDC UT).

               The Commission announced that on March 2, the Honorable Dale
          A. Kimball, U.S. District Judge for the District of Utah, entered
          a  final  judgment  of  permanent  injunction  by consent against
          Bartley  Carson Healy. Healy was enjoined from future  violations
          of the registration  and  antifraud  provisions  of  the  federal
          securities laws and ordered to disgorge $730,000, with payment of
          all  but  $100,000 waived based on Healy’s demonstrated inability
          to pay.

               The case  was  filed  on  August  27,  1997,  against Cihaco
          International, Inc., Hartmut Haussecker, Healy, and Tanya Llanes-
          Tarver alleging that from January 1993 through January  1997, the
          defendants  raised  at  least  $18 million through the fraudulent
          sale of unregistered securities  to more than 500 investors.  The
          securities involved were putative  interests  in investment pools
          to  be  managed  by  Haussecker,  who  was to invest  in  stocks,
          currencies,  and  other  financial  instruments,  with  projected
          returns of from 17 percent to 60 percent  per  month.  Instead of
          investing  the  funds,  Haussecker  spent  most of the  money  to
          support  his  lavish  lifestyle  and to purchase  items  such  as
          automobiles and jewelry for persons  who  were  named  as  relief
          defendants  in  the  Complaint.   The  Complaint alleged that the
          defendants  violated  the  federal  securities  laws  by  selling
          unregistered  securities and lying to  investors  about  how  the
          money was to be spent.

               Cihaco and  Haussecker  were permanently enjoined by default
          on May 18, 1998, and ordered to  pay $18,740,617 in disgorgement,
          plus   prejudgment  and  postjudgment   interest.   Approximately
          $350,000   was   realized  by  auctioning  Haussecker’s  personal
          property and an unfinished home located near Branson, Missouri.

               The Commission  sought,  and  obtained,  a  receiver for the
          assets  recovered.  The receiver is charged with locating  assets
          and returning the recovered funds to investors.

               Llanes-Tarver was permanently enjoined by consent on May 20,
          1998. Disgorgement  was waived and a penalty not imposed based on
          Llanes-Tarver’s demonstrated inability to pay.