SECURITIES AND EXCHANGE COMMISSION
     Washington, D.C.


     Litigation Release No.  15737 / May 14, 1998

     SEC v. THE BETTER LIFE CLUB OF AMERICA, INC., and ROBERT N. TAYLOR, United
     States District Court for the District of Columbia, Civ. No. 95-1679 (TFH);
     MICHAEL MISSAL, Receiver, v. JAMES E. WASHINGTON et al., United States
     District Court for the District of Columbia, Civ. No. 97-982 (TFH).

     The United States District Court for the District of Columbia has granted
     summary judgment to Michael J. Missal, the court-appointed receiver for the
     Better Life Club of America, Inc., in his lawsuit against James Washington,
     Jacob Haynes, Dreams Unlimited, and Concepts Unlimited (the  Dreams
     Defendants ).  Judge Thomas F. Hogan ordered the Dreams Defendants to pay
     to the receiver all of the profits they made from investing in the Better
     Life Club  Advertising Pool,  a Ponzi scheme in which thousands of
     investors lost more than $26 million.  Judge Hogan found that these
     defendants received at least $2.7 million.  All of the moneys recovered
     will be added to the pool of funds that will be distributed to the victims
     of the Better Life Club Ponzi scheme.  Not including the amounts to be
     repaid by the Dreams Defendants and others who have been ordered to
     disgorge investor funds, that pool currently contains approximately $2.4
     million.

     In his decision, which was issued on April 17, 1998, Judge Hogan found that
     the Dreams Defendants, on behalf of themselves and their family and
     friends, invested more than $5 million in the Better Life Club  Advertising
     Pool  from February 1994 through August 1995.  Although the Better Life
     Club promised to pay the Dreams Defendants a 100 percent return in 60 days,
     they promised their own investors a 50 percent return in 75 days.  The
     Court found that the Dreams Defendants received a total of at least
     $7.7 million from the  Advertising Pool,  for a profit of at least $2.7
     million.  Noting that the Dreams Defendants themselves had stated in court
     filings that their profits were nearly $3.3 million, Judge Hogan ordered
     further briefing to determine the precise amount that they will be required
     to disgorge.

     The legal basis of Judge Hogan s ruling was the District of Columbia
     Uniform Fraudulent Transfer Act, which prohibits transfers by a debtor with
     the intent to hinder, delay, or defraud creditors.  The Court ruled that,
     because a Ponzi scheme is, by definition, unable to repay all its
     creditors, any transfer from the scheme to a creditor is necessarily made
     with the intent to hinder the rights of other creditors.  Judge Hogan also
     refused to give the Dreams Defendants a set-off for the amounts they paid
     to their own investors.

     The receiver filed his action against the Dreams Defendants on May 8, 1997. 
     See SEC Lit. Rel. No. 15362 (May 12, 1997).  The Commission filed its
     underlying action against the Better Life Club and its founder, Robert N.
     Taylor, on September 1, 1995.  Judge Hogan granted the Commission s motion

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     for summary judgment in that action on February 27, 1998.  See SEC Lit.
     Rel. No. 15660 (March 5, 1998).  Robert Taylor pled guilty to criminal
     contempt and wire fraud on July 22, 1996, and is currently serving a 41-
     month prison term in a federal correctional institution in Petersburg,
     Virginia.  See SEC Lit. Rel. No. 14988 (March 7, 1997).



















































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