Administrative Release


Securities Act of 1933
Release No.   7581 /September 22, 1998

Securities Exchange Act of 1934
Release No.  40453 /September 22, 1998

Administrative Proceeding
File No. 3-9711


ADMINISTRATIVE AND CEASE AND DESIST PROCEEDINGS INSTITUTED
AGAINST MEDA BELLE MCKINNEY

The Securities and Exchange Commission ("Commission")
announced that it issued an Order Instituting Public
Proceedings Pursuant to Section 8A of the Securities Act of
1933 ("Securities Act") and Sections 15(b), 19(h) and 21C of
the Securities Exchange Act of 1934 ("Exchange Act") against
Meda Belle McKinney ("McKinney"), alleging violations of the
registration and antifraud provisions of the securities
laws: Section 5(a), 5(c) and 17(a) of the Securities Act,
and Section 10(b) of the Exchange Act and Rule 10b-5
thereunder.  McKinney is a registered representative at
Innovative Consulting Services, Inc. ("ICS"), a registered
broker-dealer located in Sligo, Pennsylvania.

The Commission's Order alleges that, from 1993 through 1996,
ICS, through certain individuals, including McKinney and
ICS' owner, raised more than $16 million from hundreds of
investors by fraudulently offering to the public and selling
approximately 43 limited partnerships.  As part of this
fraudulent scheme, ICS agreed to pay investors 13% annually
on their investments.  None of the limited partnerships had
registration statements on file or in effect with the
Commission.

The Order further alleges that McKinney made
misrepresentations and omissions to investors in connection
with the offer and sale of the limited partnerships.  She
failed to disclose to investors the risks of the investment
and the use of offering proceeds.  For example, McKinney
failed to tell investors that the source of their interest
payments would be funds raised from new investors.  She also
told investors that the limited partnerships were as safe as
bank certificates of deposit, even though they were highly
risky.  The Order also alleges that McKinney profited
personally from the fraudulent scheme.

A hearing will be scheduled to determine whether the
allegations contained in the Order are true, and if so, to
determine what sanctions, if any, are appropriate and in the
public interest.