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             U.S. SECURITIES AND EXCHANGE COMMISSION

LITIGATION RELEASE NO. 15063 / September 23, 1996

Securities and Exchange Commission v. Kimberly D. Goodman, Civil
Action No. CV-96-5706 RJK (Ex) (C.D. Cal);

     The Securities and Exchange Commission announced that on
September 13, 1996, the United States District Court for the
Central District of California entered a judgment permanently
enjoining a former employee of Refco Securities, Inc., Kimberly
D. Goodman, from committing future violations of the antifraud
provisions of the federal securities laws.  Goodman consented to
the injunction without admitting or denying the allegations in
the Commission's complaint.

     The judgment was entered in a lawsuit filed by the
Commission on August 6, 1996.  In that action, the Commission
alleged that Goodman assisted the former California money
manager, Steven D. Wymer, in an investment scheme that resulted
in Wymer's clients losing more than $80 million.  The Commission
further alleged, among other things, that between July 1988 and
November 1991, Goodman lied to Wymer's clients and their auditors
about the amount of cash and securities they had in their
accounts at Refco.  For instance, Goodman signed at least 20
audit confirmation letters verifying fictitious account balances
to the auditors of Wymer's clients.  In those letters, Goodman
stated that the clients had balances ranging from $400,000 to
$75,000,000, when in fact the clients' balances were often near
zero.  In exchange for her assistance, Wymer paid Goodman
approximately $183,000 in cash and bestowed on her approximately
$130,000 in luxury gifts, including a $60,000 Jaguar convertible,
a Mercedes Benz and a Rolex watch.

     In addition to consenting to the entry of an injunction
against her, Goodman also agreed to be barred from the securities
industry.