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         UNITED STATES SECURITIES AND EXCHANGE COMMISSION

LITIGATION RELEASE NO. 15156 / November 13, 1996

SECURITIES AND EXCHANGE COMMISSION v. PETER C. BUCCHIERI AND
DAVID S. WEIL, 96 Civ. 8508 (LMM) (S.D.N.Y.)
The Securities and Exchange Commission announced the filing of a
Complaint charging securities fraud against two men who operated
Star Capital Management, Inc. ("Star"), an investment advisory
firm that victimized a clientele consisting almost entirely of
financially unsophisticated fashion models.  The Commission
alleged that the defendants stole at least $1.2 million, which
they used to pay various personal expenses, such as making
overdue mortgage payments and purchasing a Porsche automobile.
Named as defendants in the Complaint filed in the United States
District Court for the Southern District of New York were:

     PETER C. BUCCHIERI ("Bucchieri"), age 40, of Las Vegas,
     Nevada, who was president, a director, and sole owner of
     Star; and

     DAVID S. WEIL ("Weil"), 33, of North Salem, New York, who
     was chief executive officer and a director of Star.

The Commission's Complaint alleges as follows:

     From 1993 through early 1995, Star served as investment
adviser and business manager to approximately 30 clients, almost
all of whom were financially unsophisticated fashion models.
Weil sought from each client, and in most cases obtained,
complete control over the client's finances, including control of
the client's bank accounts.  Bucchieri and Weil engaged in the
repeated theft of client assets through the sale of purported
"pooled" real estate investments and the diversion of funds from
bank accounts.  In truth, the "pooled" real estate investments
did not exist.  Bucchieri and Weil diverted their clients' money
to fund Star's operating expenses, to pay personal expenses of
Weil and Bucchieri, to compensate victims of prior frauds, to
make past due payments on a personal home mortgage and thereby
avoid foreclosure, and to serve as collateral for a loan to
purchase a Porsche automobile.

     In addition, Star, Bucchieri, and Weil unlawfully acted as
unregistered investment advisers, and failed to comply with
certain disclosure and record-keeping requirements under the
Investment Advisers Act of 1940 ("Advisers Act").