SECURITIES AND EXCHANGE COMMISSION


          LITIGATION RELEASE NO.  15706 / April 14, 1998

          SECURITIES  AND  EXCHANGE COMMISSION v. EDWARD J. PARADIS JR. AND
          WALTER R. SNYDER,  JR.  (United  States  District  Court  for the
          District of Massachusetts, Civ. Action No. 98-10638-NG).

          The  Securities  and  Exchange Commission announced that on April
          14, 1998, the Honorable  Nancy  Gertner,  U.S. District Judge for
          the  District  of  Massachusetts,  unsealed  an  emergency  order
          entered  on  April  13, 1998, temporarily restraining  EDWARD  J.
          PARADIS,  JR., and WALTER  R.  SNYDER,  JR.,  from  continuing  a
          fraudulent   investment   scheme  in  violation  of  the  federal
          securities laws.  The order  also  freezes  the assets of Paradis
          and   Snyder.   Paradis  resides  in  Sturbridge,  Massachusetts.
          Snyder  is  a  lawyer  who  maintains an office in Sturbridge and
          resides in Southbridge, Massachusetts.

          The  Commission's  complaint  alleges  that  Paradis  and  Snyder
          obtained $175,000 from an investor,  promising  him  a  return of
          over  300%  in  stock  and cash within thirty days.  They falsely
          told the investor that his money would be safely held in Snyder's
          attorney  escrow  account   until  completion  of  a  "financing"
          transaction that would produce  the  300%  profit.   Contrary  to
          their promises to the investor, however, Paradis and Snyder began
          removing  the  investor's  funds  as soon as the funds arrived in
          Snyder's account, and have misappropriated  at  least $144,000 to
          date, using it for purposes such as paying Paradis'  rent.   Some
          of the investor funds were transferred to a Swiss bank account in
          Paradis'  name.   The Complaint alleges that even after the money
          was  misappropriated,  Paradis  assured  the  investor  that  the
          completion of the transaction was imminent.

          In its Complaint, the Commission further alleges that Paradis and
          Snyder  falsely told the investor they had successfully completed
          similar "financing" transactions on several prior occasions when,
          in fact,  they had engaged in a series of at least six fraudulent
          schemes   during    the   past   three   years,   obtaining   and
          misappropriating over $1 million from investors.

          In addition to temporarily  restraining  Paradis  and  Snyder and
          freezing their assets, the Court's order requires them to provide
          an  accounting  of  their  assets,  orders  the  repatriation  of
          investor  funds  abroad  and  grants other emergency relief.  The
          Commission filed its Complaint  on  April  13  on an emergency ex
          parte basis.