Advertisement
YOU ARE HERE: LAT HomeCollectionsInstitutional Treasury Management
IN THE NEWS

Institutional Treasury Management

FEATURED ARTICLES
BUSINESS
December 17, 1991 | SONNI EFRON
A criminal investigation of Newport Beach investment adviser Steven D. Wymer appeared to be developing Monday as prosecutors from the U.S. attorney's office in Iowa headed to Los Angeles to share information on an alleged multimillion-dollar fraud. In a civil suit filed last week, the Securities and Exchange Commission has charged Wymer with fraud in the alleged disappearance of $75.
ARTICLES BY DATE
BUSINESS
December 27, 1995 | Times Staff and Wire Reports
Part of Judgment in Fraud Case Waived: A former salesman for convicted investment manager Steven D. Wymer has agreed to pay more than $600,000 to settle charges that he helped Wymer cheat municipalities out of millions of dollars. A Securities and Exchange Commission civil action says James Pearce, marketing director for Institutional Treasury Management Inc.
Advertisement
BUSINESS
September 2, 1993 | From Associated Press
A former Newport Beach money manager who was convicted of defrauding small cities and government agencies of $92 million entered the federal prison camp here Wednesday to begin serving a 14 1/2-year sentence. Steven D. Wymer, former chief of Institutional Treasury Management in Irvine, reported to the minimum-security camp about noon, said Todd Craig, camp administrator. Wymer, 44, was sentenced in May after pleading guilty to nine felonies.
BUSINESS
December 27, 1995 | DAN MARGOLIS, SPECIAL TO THE TIMES
A former salesman for jailed investment manager Steven D. Wymer has agreed to a lifetime ban on working in the securities industry to settle charges that he helped swindle municipalities across the country out of millions of dollars, Securities and Exchange Commission officials said. Newport Beach resident James A.
NEWS
February 18, 1992 | SONNI EFRON, TIMES STAFF WRITER
The phone call jolted Janet Bainbridge from her sleep. Had she heard that her former business partner, investment adviser Steven David Wymer, was accused of making $113 million of taxpayer money disappear without a trace? "My first thought was: I bet he was playing the futures market uncovered, and lost it there," said Bainbridge. But Bainbridge's shock was tempered by a sickening sense of deja vu.
BUSINESS
February 3, 1992 | From Times Staff and Wire Reports
Another $1 Million Seized From Wymer: Federal prosecutors said the latest assets seized from indicted investment manager Steven D. Wymer of Newport Beach were a $630,000 note on real estate; $227,000 from a Las Vegas bank account in the name of his wife, Ann Marie; $186,000 worth of furniture, and a 1986 Mercedes-Benz. The 43-year-old Wymer, accused of fraud involving $100 million in funds from cities and agencies nationwide, denies any wrongdoing.
BUSINESS
December 13, 1991 | DAN WEIKEL, TIMES STAFF WRITER
A federal judge in Los Angeles has frozen the assets of investment firms operated by an Irvine financial adviser in the wake of Securities and Exchange Commission allegations that he defrauded clients out of $75.4 million. Funds from scores of Iowa governmental agencies are among the frozen assets. The SEC's charges against Steven D.
BUSINESS
December 27, 1995 | Times Staff and Wire Reports
Part of Judgment in Fraud Case Waived: A former salesman for convicted investment manager Steven D. Wymer has agreed to pay more than $600,000 to settle charges that he helped Wymer cheat municipalities out of millions of dollars. A Securities and Exchange Commission civil action says James Pearce, marketing director for Institutional Treasury Management Inc.
BUSINESS
December 13, 1991 | DAN WEIKEL, TIMES STAFF WRITER
Allegations that an Irvine financial adviser defrauded clients of $75.4 million sent a fiscal shock wave Thursday through Iowa, where scores of government agencies had invested in trust funds now under federal investigation. As the Securities and Exchange Commission pursued accusations of fraud against Steven D. Wymer and his two companies, Iowa's governor called a special meeting to assess the potential damage to as many as 86 public entities, whose surplus funds were managed by Wymer's firms.
BUSINESS
December 27, 1995 | DAN MARGOLIS, SPECIAL TO THE TIMES
A former salesman for jailed investment manager Steven D. Wymer has agreed to a lifetime ban on working in the securities industry to settle charges that he helped swindle municipalities across the country out of millions of dollars, Securities and Exchange Commission officials said. Newport Beach resident James A.
BUSINESS
September 2, 1993 | From Associated Press
A former Newport Beach money manager who was convicted of defrauding small cities and government agencies of $92 million entered the federal prison camp here Wednesday to begin serving a 14 1/2-year sentence. Steven D. Wymer, former chief of Institutional Treasury Management in Irvine, reported to the minimum-security camp about noon, said Todd Craig, camp administrator. Wymer, 44, was sentenced in May after pleading guilty to nine felonies.
BUSINESS
September 2, 1992 | JAMES M. GOMEZ, TIMES STAFF WRITER
An attorney for Newport Beach investment adviser Steven D. Wymer, who allegedly made off with as much as $113 million in investors' money, said Tuesday that his client and prosecutors are close to a plea agreement. "The parties are certainly working toward that," said attorney Mark S. Roberts of Fullerton, who is also a friend of Wymer. Roberts and federal prosecutors said Tuesday that a trial in U.S. District Court in Los Angeles is scheduled to begin Sept. 15.
BUSINESS
June 17, 1992 | JAMES S. GRANELLI, TIMES STAFF WRITER
Indicted investment adviser Steven D. Wymer, who is accused of defrauding local governments of more than $100 million, has consented to a federal order that bars him from the industry permanently, the Securities and Exchange Commission said Tuesday. The SEC said the Newport Beach resident agreed, as expected, to the administrative order without admitting or denying guilt.
NEWS
April 9, 1992 | SONNI EFRON, TIMES STAFF WRITER
Newport Beach investment adviser Steven D. Wymer conspired with an employee of a New York brokerage firm to defraud the city of Orange of $7 million, the city alleged in a lawsuit filed Wednesday. The lawsuit names Wymer, Refco Securities Inc. in New York, the brokerage where he traded, and Kimberly Goodman, the Refco employee who handled Orange's account.
BUSINESS
March 17, 1992 | JOHN O'DELL, TIMES STAFF WRITER
The court-appointed receiver for indicted Irvine investment adviser Steven D. Wymer has begun liquidation proceedings against three Wymer companies in federal bankruptcy court here. The Chapter 7 petitions, filed late last week, cite millions of dollars in liabilities--funds that a variety of clients including the cities of Orange and Torrance say the investment manager squandered instead of investing for them.
CALIFORNIA | LOCAL
March 12, 1992 | DEBORAH SCHOCH, TIMES STAFF WRITER
Torrance filed suit this week against Steven D. Wymer and his once-lauded financial empire in hopes of recapturing $6 million in city money that was discovered missing in December. The civil lawsuit, filed in U.S. District Court, accuses Wymer of defrauding Torrance of money the city had entrusted to the Irvine-based investment adviser. City Atty. Kenneth L.
BUSINESS
December 14, 1991 | SONNI EFRON and DOUGLAS FRANTZ, TIMES STAFF WRITERS
Securities and Exchange Commission officials said Friday that the amount of client money missing from the two companies controlled by Irvine investment adviser Steven D. Wymer could exceed $75 million, and that up to $200 million in funds that had been under Wymer's direct control could be in jeopardy.
BUSINESS
February 25, 1992 | MICHAEL FLAGG, TIMES STAFF WRITER
A federal judge Monday set Sept. 15 as the date Newport Beach investment adviser Steven D. Wymer will stand trial on charges he stole $113 million from clients. Prosecutors allege that the money disappeared while Wymer was supposedly investing it in federal Treasury bonds for about 100 cities in Iowa and California, including Orange. It isn't clear where the money went, since prosecutors are still trying to trace it.
BUSINESS
February 28, 1992
Last month, federal agents seized personal property owned by Newport Beach money manager Steven D. Wymer, who has been accused of defrauding clients of more than $113 million. Some assets were jointly owned by his wife, Ann Marie.
BUSINESS
February 25, 1992 | MICHAEL FLAGG, TIMES STAFF WRITER
A federal judge Monday set Sept. 15 as the date Newport Beach investment adviser Steven D. Wymer will stand trial on charges he stole $113 million from clients. Prosecutors allege that the money disappeared while Wymer was supposedly investing it in federal Treasury bonds for about 100 cities in Iowa and California, including Orange. It isn't clear where the money went, since prosecutors are still trying to trace it.
Los Angeles Times Articles
|