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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. )<F*>
UNIFIED FINANCIAL SERVICES, INC.
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(Name of Issuer)
Common Stock, $.01 par value
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(Title of Class of Securities)
Not Applicable
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(CUSIP Number)
May 8, 1998
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(Date of Event which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:
[ ] Rule 13d-1(b)
[ X ] Rule 13d-1(c)
[ ] Rule 13d-1(d)
[FN]
<F*> The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which
would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not
be deemed to be "filed" for the purpose of Section 18 of the Securities
Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that
section of the Act but shall be subject to all other provisions of the Act
(however, see the Notes).
Page 1 of 6 pages
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CUSIP No. N/A Page 2 of 6 Pages
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1 NAMES OF REPORTING PERSONS/
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Jack R. Orben
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) / /
(b) / /
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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5 SOLE VOTING POWER
75,240<F1>
NUMBER OF --------------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY -0-
OWNED BY --------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 75,240<F1>
PERSON --------------------------------------------------------
WITH 8 SHARED DISPOSITIVE POWER
-0-
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
75,240<F1>
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES / /
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.6%
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12 TYPE OF REPORTING PERSON
IN
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[FN]
<F1>Includes 57,240 shares of common stock, $0.01 par value, of Unified
Financial Services, Inc. that may be received upon the conversion of 424 shares
of Series C Preferred Stock, $0.01 par value, of Unified Financial Services,
Inc. which shares of Preferred Stock were purchased by the Reporting Person on
May 8, 1998.
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CUSIP No. N/A Page 3 of 6 Pages
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ITEM 1. (a) Name of Issuer:
Unified Financial Services, Inc.
(b) Address of Issuer's Principal Executive Offices:
431 North Pennsylvania Street
Indianapolis, Indiana 46204-1873
ITEM 2. (a) Name of Person Filing:
Jack R. Orben
(b) Address of Principal Business Offices or, if none,
Residence:
AFS Group, Inc.
The Bar Association Building
36 West 44th Street, Suite 1310
New York, New York 10036
(c) Citizenship:
United States
(d) Title of Class of Securities:
Common Stock, $.01 par value
(e) CUSIP Number:
Not Applicable
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO SECTION
240.13d-1(b) OR SECTIONS 240.13d-2(b) OR (c), CHECK
WHETHER THE PERSON FILING IS A:
(a) [ ] Broker or Dealer registered under Section 15 of
the Act (15 U.S.C. 78o)
(b) [ ] Bank as defined in Section 3(a)(6) of the Act
(15 U.S.C. 78c)
(c) [ ] Insurance Company as defined in Section
3(a)(19) of the Act (15 U.S.C. 78c)
(d) [ ] Investment Company registered under Section 8
of the Investment Company Act of 1940
(15 U.S.C. 809-8)
(e) [ ] An investment adviser in accordance with
Section 240.13d-1(b)(1)(ii)(E)
(f) [ ] An employee benefit plan or endowment fund in
accordance with Section 240.13d-1(b)(1)(ii)(F)
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CUSIP No. N/A Page 4 of 6 Pages
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(g) [ ] A parent holding company or control person, in
accordance with Section 240.13d-1(b)(ii)(G)
(h) [ ] A savings association as defined in Section
3(b) of the Federal Deposit Insurance Act
(12 U.S.C. 1813)
(i) [ ] A church plan that is excluded from the
definition of an investment company under
section 3(c)(14) of the Investment Company Act
of 1940 (15 U.S.C. 80-a-3)
(j) [ ] Group, in accordance with Section
240.13d-1(b)(1)(ii)(J)
ITEM 4. OWNERSHIP.
(a) Amount Beneficially Owned:
75,240<F1>
(b) Percent of Class:
5.6%<F2>
(c) Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote
75,240<F1>
(ii) Shared power to vote or to direct the vote
-0-
(iii) Sole power to dispose or to direct the disposition of
75,240<F1>
(iv) Shared power to dispose or to direct the disposition
of
-0-
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS.
Not Applicable
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF
ANOTHER PERSON.
Not Applicable
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CUSIP No. N/A Page 5 of 6 Pages
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ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY
WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE
PARENT HOLDING COMPANY.
Not Applicable
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE
GROUP.
Not Applicable
ITEM 9. NOTICE OF DISSOLUTION OF GROUP.
Not Applicable
ITEM 10. CERTIFICATIONS.
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were not acquired and
are not held for the purpose of or with the effect of changing or
influencing the control of the issuer of the securities and were
not acquired and are not held in connection with or as a
participant in any transaction having that purpose or effect.
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CUSIP No. N/A Page 6 of 6 Pages
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SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth on this statement is true, complete
and correct.
May 18, 1998
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Date
/s/ Jack R. Orben
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Signature
Jack R. Orben
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Name/Title
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[FN]
<F1> Includes 57,240 shares of common stock, $0.01 par value, of
Unified Financial Services, Inc. that may be received upon the conversion of
424 shares of Series C Preferred Stock, $0.01 par value, of Unified Financial
Services, Inc. which shares of Preferred Stock were purchased by the Reporting
Person on May 8, 1998.
<F2> Based upon 1,276,100 shares of the Company's Common Stock, $.01
par value, issued and outstanding as of May 8, 1998.
