UNITED STATES SECURITIES AND EXCHANGE COMMISSION

     Litigation Release No.  15772 / June 9, 1998

     SEC V. TED  MONG, S.D. Ohio, C2-96-989, filed September 30, 1996

     The Commission announced the entry of an Order of Permanent Injunction and
     other Equitable Relief (Order) against Ted E. Mong (Mong).  Mong consented
     to the entry of the Order without admitting or denying the allegations of
     the Complaint.

     In its Complaint, the Commission alleged that Mong, through Liberty Bell Association, Inc.
      (Liberty Bell) and McKenzie Matthew, Inc. (McKenzie) raised more than $1.6 million by
      selling promissory notes to investors from approximately March 1993 until August 1995.
      Mong, the Commission alleged, misrepresented the risk of investing in the promissory notes
      sold by Liberty Bell and McKenzie, the return investors would receive and the use of
      investor proceeds.  In particular, the Commission alleged that individuals who purchased
      promissory notes from Liberty Bell and McKenzie were told that investor funds would be
      loaned to successful companies, that investors could earn up to a 230% return on their
      investment and that their funds were completely secured by U.S. Government bonds,
      government securities and real estate equity.  Instead, the Commission alleged that
      Liberty Bell and McKenzie directed investor funds to two struggling companies that used
      investor funds for operating capital, while the promised collateral for investor funds did
      not exist.  Most of the investors who bought promissory notes from Liberty Bell and
      McKenzie lost nearly their entire investment.  The Commission also alleged that Mong sold
      these promissory notes to investors without being registered as a broker-dealer in
      violation of the registration provisions of the federal securities laws.

      On June 1, the Honorable James Graham of the U.S. District Court for the Southern District
      of Ohio entered the Order enjoining Mong from future violations of 17(a) of the Securities
      Act of 1933, Sections 10(b), 15(a) and 15(c) of the Securities Exchange Act of 1934 and
      Rules 10b-5 and 15c1-2 promulgated thereunder.  The Order also finds disgorgement in the
      amount of $186,672.71, plus prejudgment interest, however, payment is waived based on 
      Mong's demonstrated inability to pay.  

      Mong currently is serving a 15 to 35 year sentence imposed on him by a Common Pleas Court
      in Licking County, Ohio after a jury found Mong guilty of 78 counts of criminal law
      violations relating to his raising funds from investors through corporations under his
      control, including Liberty Bell and McKenzie.  














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