Release: #4071-97 (CFTC Docket No. 94-14)

For Release: October 30, 1997**CFTC ACCEPTS SETTLEMENT OFFER OF EDWARD T. HAMLET OF BOCA RATON,    FLORIDA, FINDING THAT HE AIDED AND ABETTED COMMODITY FRAUD****Hamlet Agrees to be Permanently Barred from the Futures Industry**    WASHINGTON -- The Commodity Futures Trading Commission (CFTC) announced    today that on October 28, 1997, it issued an order accepting an offer of    settlement from **Edward T. Hamlet**, of Boca Raton, Florida, finding    that Hamlet aided and abetted others in defrauding 6,000 foreign commodity    pool investors in violation of the Commodity Exchange Act.

Hamlet is one of several respondents in an administrative action pending    before the CFTC entitled In the Matter of Jerry W. Slusser, et al.,    CFTC Docket No. 94-14 (CFTC Press Release #3766-94, May 27, 1994). The    complaint alleges, among other things, that Jerry W. Slusser and First    Republic Financial Corporation (formerly Vancorp Financial Services (VFS))    committed commodity pool fraud by misappropriating over $4 million from    foreign investors in two commodity pools.

In the settlement order, the CFTC made findings that Hamlet, as vice    president of VFS, knowingly participated in directing the trading of    millions of dollars of commodity pool money in futures and securities    during May through September 1989 for the purpose of meeting Slusser's goal    of earning $2.25 million in commissions. The order also finds that Slusser    and companies owned and controlled by him received over $2.9 million in    commissions and fees, while investors lost $4.2 million.

Hamlet, without admitting or denying the findings in the CFTC'S order,    agreed to cease and desist from further violations of federal commodity law    and:

never to solicit or accept money from any person in connection with the    purchase or sale of any commodity interest contract;

never to give advice in connection with the purchase or sale of any    commodity interest contract to anyone other than his employer in connection    with his employer's proprietary trading;

never to introduce customers to any person or issue statements to others    concerning commodity interest trading; and

never to apply for registration with the CFTC in any capacity and never    to engage in any activity requiring registration, effectively barring him    from the futures industry. Hamlet was formerly registered with the CFTC as    an associated person of First Republic Trading Corporation and as a    commodity pool operator.

In addition, Hamlet agreed to cooperate fully with the CFTC's Division    of Enforcement in its prosecution of the complaint in this proceeding. Also    named in the complaint and remaining as respondents in the continuing    litigation are: **Slusser** of Las Vegas, Nevada and Indianapolis,    Indiana; **Hans J. Brinks** of Germany; and **First Republic Financial    Corporation** and **First Republic Trading Corporation**, Indiana    corporations located in Las Vegas, Nevada. In January 1997, the CFTC    settled the proceeding with another respondent, **Cantor Fitzgerald &    Co.**, a securities and commodity futures broker (see CFTC News Release    #3987-97, January 28, 1997).