UNITED STATES SECURITIES AND EXCHANGE COMMISSION


     Litigation Release No. 15421 / July 24, 1997

     SECURITIES AND EXCHANGE COMMISSION V. SOUTHWEST INCOME TRUST, ET AL.,
Civil
     Action No. 97-0953 PHX RCB

          The Securities and Exchange Commission ("Commission") announced
that
     on July 11 and July 21, 1997, the Honorable Robert C. Broomfield,
United
     States District Judge, issued Judgments respectively against an
Arizona
     accountant, Steven Robert Shoop ("Shoop"), and a California attorney,
     Anthony Ghirardello Marriott, for their roles in a $10.7 million
scheme
     involving the fraudulent sale of investments in a Treasury securities
     trading program.

          The Commission alleges in its Complaint that the defendants,
including
     Shoop and Marriott, raised the $10.7 million from approximately 149
     investors in Arizona and California through the sale of interests in
     investment trusts ("Trusts") and other programs.  The defendants
     represented to investors that:  investor funds would only be used to
     purchase and trade Treasury securities; investors would receive 1%
per
     month in profits from trading Treasury securities; if the 1% monthly
return
     from trading profits were not achieved, investors' funds would be
returned;
     and only after payment of the 1% monthly return, would the trustees of
the
     Trusts, sales agents, and others be paid from excess trading profits.

          The Complaint further alleges that contrary to these
representations,
     the defendants operated a Ponzi-like scheme that paid investors their
1%
     monthly return from other investors' funds, failed to return
investors'