SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 16934 / March 16, 2001

SECURITIES AND EXCHANGE COMMISSION v. LEWIS ALLEN RIVLIN, EDWIN EARL HULING III, AND ALFRED HUASCAR VELARDE, AS DEFENDANTS; AND Z-FINANCE, S.A., ANTHONY P. ZIOUDAS, HEDLEY FINANCE LTD., CHRISTIAN DANTE, AND CHRYSANTHOS CHRYSOSTOMOU, AS RELIEF DEFENDANTS, Civil Action No. 99-1455 (RCL) (U.S. District Court for the District of Columbia)

The Securities and Exchange Commission today announced that on March 13, 2001, the Honorable Royce C. Lamberth of the United States District Court for the District of Columbia issued an Order Directing the Distribution of Disgorgement Proceeds ("Distribution Order") in an international prime bank fraud case involving Lewis A. Rivlin, a Washington D.C. attorney. The Distribution Order directs the Clerk of the Court to pay $873,000 to the Fundacion Perez Pallarez, an Ecuadorian charity for underprivileged girls, and a group of related individuals. This money was repatriated from a Greek bank account belonging to one of the relief defendants and represents a portion of the funds stolen from investors (see also Litigation Releases Nos. 16,779 (Oct. 25, 2000); 16,593 (June 15, 2000); 16,389 (Dec. 13, 1999) and 16,179 (June 8, 1999)).