Securities and Exchange Commission

Litigation Release No. 17805 / October 24, 2002

Final Judgments of Permanent Injunction Entered Against
Defendants Accused of Fraudulent Payday Advance Scheme

, Case No. 02-80456-Civ-Middlebrooks/Vitunac (S.D. Florida, filed May 16,
2002)

   The Securities and Exchange Commission ("Commission") announced that
   on September 23, 2002, the United States District Court for the
   Southern District of Florida entered final judgments of permanent
   injunction against Jean B. Leclercq ("Leclercq"), Kip Marsique
   ("Marsique"), and Frederick J. Shapiro ("Shapiro") for fraud and for
   selling unregistered securities. This follows the Court's permanent
   injunction of August 8, 2002 entered against Starcash, Inc
   ("Starcash") and Infinity Consulting Services, Inc. ("Infinity"), both
   Florida corporations. Leclercq, Shapiro, Marsique, Starcash, and
   Infinity, without admitting or denying the SEC's allegations,
   consented to the Court Order that permanently enjoins them from
   violating Sections 5(a), 5(c), and 17(a) of the Securities Act of 1933
   and Sections 10(b) and 15(a) of the Securities Exchange Act of 1934
   and Rule 10b-5 thereunder.

   In its Complaint filed on May 16, 2002, the SEC alleged that Starcash,
   based in Boca Raton, and Ft. Lauderdale, Florida, conducted a
   fraudulent unregistered offering to raise investor funds for the
   purported purpose of funding payday advances in the form of short-term
   loans. The SEC alleged that between October 2001 and May 2002, the
   Starcash defendants raised more than $6 million from investors
   nationwide through a network of boiler rooms to allegedly fund
   short-term payday loans. According to the SEC's complaint, the
   Starcash defendants falsely represented that investor funds would be
   used to fund advance payday loans, and that the investments were
   virtually risk free and were secured by the purported loans. In fact,
   Starcash paid exorbitant commissions to the boiler rooms from investor
   monies, and the loans were unsafe and grossly undersecured. In
   addition, the Complaint alleged that Starcash made baseless
   predictions to investors that its payday advance business could
   generate up to $80 million in revenue a year.

   On May 17, 2002, the Court entered, among other things, a temporary
   restraining order and an asset freeze against all defendants and
   relief defendants. On May 28, 2002, the Court entered an Order
   Granting Motion for Preliminary Injunction of Asset Freeze as to the
   relief defendants. On May 28, 2002, the Court entered a Preliminary
   Injunction and other relief against all defendants by consent, without