SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549



                                    FORM 8-K

                                 CURRENT REPORT
                       PURSUANT TO SECTION 13 or 15(d) OF
                       THE SECURITIES EXCHANGE ACT OF 1934




                         DATE OF REPORT: MARCH 20, 2002



                                 eCHAPMAN, INC.
             (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)


<TABLE>
<CAPTION>


<S>                                            <C>                                     <C>
            Maryland                                   0-28123                             52-2184621
------------------------------                   --------------------                ---------------------
 (STATE OR OTHER JURISDICTION                    (COMMISSION FILE NO.)                   (IRS EMPLOYER
      OF INCORPORATION OR                                                            IDENTIFICATION NUMBER)
         ORGANIZATION)

</TABLE>

                        401 East Pratt Street, 28th Floor
                               Baltimore, MD 21202
                                 (410) 625-9656
               (ADDRESS, INCLUDING ZIP CODE, AND TELEPHONE NUMBER
                       INCLUDING AREA CODE OF REGISTRANT'S
                          PRINCIPAL EXECUTIVE OFFICES)




          (FORMER NAME OR FORMER ADDRESS, IF CHANGED SINCE LAST REPORT)

                              --------------------

<PAGE>


ITEM 4.  CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT.

(a)  Previous Independent Accountants

         (i) On March 15, 2002 eChapman, Inc. ("eChapman" or the "Company")
issued a press release announcing that it had terminated the Company's
relationship with Arthur Andersen, LLP ("Arthur Andersen"), effective March 14,
2002. A copy of the press release is attached hereto as Exhibit 99 and is
incorporated herein by reference.

         (ii) The reports of Arthur Andersen on the 2000 and 1999 financial
statements of the Company contained no adverse opinion, disclaimer of opinion or
modification of the opinion, nor were they qualified or modified as to
uncertainty, audit scope or accounting principles. Arthur Andersen did not issue
a report on the 2001 financial statements of the Company.

         (iii) The decision to terminate Arthur Andersen was ratified by the
Company's Audit Committee and approved by its Board of Directors.

         (iv) The Board of Directors, at the recommendation of its audit
committee, elected to terminate Arthur Andersen for the following reasons:

              (1) Arthur Andersen indicated that it would be unable to issue the
Company's audited financial statements within a reasonable timeframe, which
impacted regulatory requirements.

              (2) The Board of Directors determined that, in light of recent
events, including, but not limited to, the indictment of Arthur Andersen for
obstruction of justice charges, there existed substantial concern as to whether
Arthur Andersen would be able to certify and stand by any report they might
issue in connection with their review of the Company's financial statements.

         (v) The Company has requested that Arthur Andersen furnish it with a
letter addressed to the SEC stating whether or not it agrees with the above
statements. The Company will file an amendment to its Form 8-K when it receives
such letter.

(b)  New Independent Accountants

         (i) The Company engaged Wilkins McNair, P.C. ("McNair") as its new
independent accountants as of March 14, 2002. During the two most recent fiscal
years and through March 14, 2002, the Company has not consulted with McNair
regarding (i) the application of accounting principles to a specified
transaction, either completed or proposed, or the type of audit opinion that
might be rendered on the Company's consolidated financial statements, and no
written report or oral advice was provided to the Company that McNair concluded
was an important factor considered by the Company in reaching a decision as to
an accounting, auditing or financial reporting issue; or (ii) any matter that
was either the subject of a disagreement, as that term is defined in Item
304(a)(1)(iv) of Regulation S-K, or a reportable event, as that term is defined
in Item 304(a)(1)(iv) of Regulation S-K.

         (ii) The Company has requested that Wilkins McNair, P.C. furnish it
with a letter addressed to the SEC stating whether or not it agrees with the
above statements. The Company will file an amendment to its Form 8-K when it
receives such letter.

<PAGE>

ITEM 7.  FINANCIAL STATEMENTS AND EXHIBITS.

         (C)      EXHIBITS.

         Exhibit No.                                     Description


                 99        Press Release, dated March 15, 2002, entitled
                           "eChapman, Inc. Terminates Relationship with Arthur
                           Andersen"




<PAGE>



                                   SIGNATURES


         Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                          eCHAPMAN, INC.


Date:    March 20, 2002                   By:
                                             -----------------------------------
                                          Nathan A. Chapman Jr, President



<PAGE>


                                  EXHIBIT INDEX
                                  -------------

<TABLE>
<CAPTION>


         Exhibit No.                                          Description

<S>      <C>
99       Press Release, dated March 15, 2002, entitled "eChapman, Inc. Terminates Relationship with Arthur Andersen"

</TABLE>
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SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT
                       PURSUANT TO SECTION 13 or 15(d) OF
                       THE SECURITIES EXCHANGE ACT OF 1934

                         DATE OF REPORT: MARCH 20, 2002

                                 eCHAPMAN, INC.
             (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
Maryland                                   0-28123                             52-2184621
------------------------------                   --------------------                ---------------------
 (STATE OR OTHER JURISDICTION                    (COMMISSION FILE NO.)                   (IRS EMPLOYER
      OF INCORPORATION OR                                                            IDENTIFICATION NUMBER)
         ORGANIZATION)
401 East Pratt Street, 28th Floor
                               Baltimore, MD 21202
                                 (410) 625-9656
               (ADDRESS, INCLUDING ZIP CODE, AND TELEPHONE NUMBER
                       INCLUDING AREA CODE OF REGISTRANT'S
                          PRINCIPAL EXECUTIVE OFFICES)

          (FORMER NAME OR FORMER ADDRESS, IF CHANGED SINCE LAST REPORT)

                              --------------------
ITEM 4.  CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT.

(a)  Previous Independent Accountants

         (i) On March 15, 2002 eChapman, Inc. ("eChapman" or the "Company")
issued a press release announcing that it had terminated the Company's
relationship with Arthur Andersen, LLP ("Arthur Andersen"), effective March 14,
2002. A copy of the press release is attached hereto as Exhibit 99 and is
incorporated herein by reference.

         (ii) The reports of Arthur Andersen on the 2000 and 1999 financial
statements of the Company contained no adverse opinion, disclaimer of opinion or
modification of the opinion, nor were they qualified or modified as to
uncertainty, audit scope or accounting principles. Arthur Andersen did not issue
a report on the 2001 financial statements of the Company.

         (iii) The decision to terminate Arthur Andersen was ratified by the
Company's Audit Committee and approved by its Board of Directors.

         (iv) The Board of Directors, at the recommendation of its audit
committee, elected to terminate Arthur Andersen for the following reasons:

              (1) Arthur Andersen indicated that it would be unable to issue the
Company's audited financial statements within a reasonable timeframe, which
impacted regulatory requirements.

              (2) The Board of Directors determined that, in light of recent
events, including, but not limited to, the indictment of Arthur Andersen for
obstruction of justice charges, there existed substantial concern as to whether
Arthur Andersen would be able to certify and stand by any report they might
issue in connection with their review of the Company's financial statements.

         (v) The Company has requested that Arthur Andersen furnish it with a
letter addressed to the SEC stating whether or not it agrees with the above
statements. The Company will file an amendment to its Form 8-K when it receives
such letter.

(b)  New Independent Accountants

         (i) The Company engaged Wilkins McNair, P.C. ("McNair") as its new
independent accountants as of March 14, 2002. During the two most recent fiscal
years and through March 14, 2002, the Company has not consulted with McNair
regarding (i) the application of accounting principles to a specified
transaction, either completed or proposed, or the type of audit opinion that
might be rendered on the Company's consolidated financial statements, and no
written report or oral advice was provided to the Company that McNair concluded
was an important factor considered by the Company in reaching a decision as to
an accounting, auditing or financial reporting issue; or (ii) any matter that
was either the subject of a disagreement, as that term is defined in Item
304(a)(1)(iv) of Regulation S-K, or a reportable event, as that term is defined
in Item 304(a)(1)(iv) of Regulation S-K.

         (ii) The Company has requested that Wilkins McNair, P.C. furnish it
with a letter addressed to the SEC stating whether or not it agrees with the
above statements. The Company will file an amendment to its Form 8-K when it
receives such letter.
ITEM 7.  FINANCIAL STATEMENTS AND EXHIBITS.

         (C)      EXHIBITS.

         Exhibit No.                                     Description

                 99        Press Release, dated March 15, 2002, entitled
                           "eChapman, Inc. Terminates Relationship with Arthur
                           Andersen"
SIGNATURES

         Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                          eCHAPMAN, INC.

Date:    March 20, 2002                   By:
                                             -----------------------------------
                                          Nathan A. Chapman Jr, President
EXHIBIT INDEX
                                  -------------
Exhibit No.                                          Description
99       Press Release, dated March 15, 2002, entitled "eChapman, Inc. Terminates Relationship with Arthur Andersen"