UNITED STATES SECURITIES AND EXCHANGE COMMISSION 

 LITIGATION RELEASE NO 15880 / September 14, 1998 

 SEC V. TEDDY WAYNE SOLOMON AND LISA STEVENS, individually and d/b/a  PLATINUM INTERNATIONAL, AND QUANTUM GROUP a/k/a QUANTUM TRADING, LTD.  3:97-CV-2712-H (USDC/ND TX, Dallas Division) 

 On September 9, 1998, in a civil action brought by the Securities and  Exchange Commission ("Commission") involving so-called "prime bank"  securities, defendants Teddy Wayne Solomon ("Solomon"), Lisa Stevens  ("Stevens") and Quantum Group ("Quantum") agreed to the entry of orders  of permanent injunction against them. The Commission also filed an  amended complaint to seek recovery from four persons who refuse to  return $400,000 of funds Solomon obtained from investors. 

 The orders, which enjoin Solomon, Stevens and Quantum from future  violations of Section 17(a) of the Securities Act of 1933 and Section  10(b) of the Securities Exchange Act of 1934, and Rule 10b-5  thereunder, arise from charges in the Commission's original complaint  that they fraudulently offered and sold interests in fictitious "Prime  Bank Instrument" trading programs through Platinum International  Associates and Quantum. The complaint alleged that Solomon and Stevens  represented, among other things, that they were agents for foreign  securities traders trading in large-denomination debt instruments  issued by "one of the top 25 world banks," and that an investment in  the trading programs would generate "safe, guaranteed" returns of as  much as 4,300% annually. In fact, according to the complaint, Solomon's  and Stevens' representations were false: the trading programs did not  exist, and Solomon and Stevens, in an apparent "ponzi scheme," used  funds taken from investors to pay supposed profits to their business  associates, to repay other investors, and for their own purposes. 

 The court also ordered Solomon, Quantum and relief defendants Quantum  Air Express, Inc., and Cherokee Worldwide Express, Inc., to pay  disgorgement, jointly and severally, in the amount of $2,929,510, plus  prejudgment interest, with two provisos: (1) that Solomon be credited  for any sums actually collected by the Commission in this or any  ancillary proceeding against any person holding funds that were paid or  given to them by Solomon from the proceeds of the unlawful activities  alleged in the complaint; and (2) that any remaining amount be waived  based on Solomon's demonstrated financial inability to pay. Stevens was  also ordered to pay disgorgement in the amount of $19,210, plus  prejudgment interest; however, payment of the full amount was waived  based on her demonstrated financial inability to pay. Because of their  poor financial condition, no civil money penalties were imposed on  Solomon or Stevens. 

 In pursuit of recovering additional investor funds, the Commission  amended its original complaint to add four relief defendants to the  action; Fidelity International Bank ("FIB"), Dunamis Enterprises  International ("Dunamis"), Gilbert Zeigler, and Graham Young. The  amended complaint charges that FIB, Dunamis, Zeigler and Young hold,  and refuse to return, $400,000 of funds Solomon obtained from  investors, which they know to have been obtained illegally by Solomon  and subject to an asset freeze order entered by the court.