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Stephen D Wymer

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CALIFORNIA | LOCAL
October 5, 1993 | MARTIN MILLER
Trying to recoup some of the $7 million it lost to investment adviser Steven D. Wymer in 1991, the city is suing two insurance companies for failing to honor a contract that promised to pay up to $500,000 in the event the city suffered a financial loss because of a dishonest employee. Filed in Orange County Superior Court on Oct. 1, the city's lawsuit accuses Lumbermen's Mutual Casualty Co. of Illinois and Robert F. Driver Co.
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BUSINESS
August 7, 1996 | MYRON LEVIN, TIMES STAFF WRITER
Refco Securities and three of its former employees Tuesday agreed to pay $3.5 million to settle claims stemming from their involvement with notorious California investment advisor Steven D. Wymer, the U.S. Securities and Exchange Commission announced. SEC officials said settlement proceeds will be apportioned among the 17 municipalities, mostly in California, that Wymer defrauded of at least $80 million through trading accounts at Refco, a large New York brokerage firm.
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BUSINESS
August 7, 1996 | MYRON LEVIN, TIMES STAFF WRITER
Refco Securities and three of its former employees Tuesday agreed to pay $3.5 million to settle claims stemming from their involvement with notorious California investment advisor Steven D. Wymer, the U.S. Securities and Exchange Commission announced. SEC officials said settlement proceeds will be apportioned among the 17 municipalities, mostly in California, that Wymer defrauded of at least $80 million through trading accounts at Refco, a large New York brokerage firm.
CALIFORNIA | LOCAL
October 5, 1993 | MARTIN MILLER
Trying to recoup some of the $7 million it lost to investment adviser Steven D. Wymer in 1991, the city is suing two insurance companies for failing to honor a contract that promised to pay up to $500,000 in the event the city suffered a financial loss because of a dishonest employee. Filed in Orange County Superior Court on Oct. 1, the city's lawsuit accuses Lumbermen's Mutual Casualty Co. of Illinois and Robert F. Driver Co.
CALIFORNIA | LOCAL
November 22, 1992
Torrance has filed a lawsuit against its former auditor, claiming that the accounting firm should have warned the city about problems it had with its former client, investment adviser Stephen D. Wymer. Torrance lost $6.2 million in an investment scam tied to Wymer, who has pleaded guilty to securities fraud.
NEWS
May 18, 1995 | CHRIS WOODYARD and TED JOHNSON
Torrance and 13 other Southern California cities and public agencies have asked the state Supreme Court to reactivate a $40-million lawsuit arising from the Stephen D. Wymer financial scandal. Torrance, which lost $6.2 million in Wymer's fraudulent investment schemes, joined in asking the high court to lift a stay imposed by a Los Angeles Superior Court judge until Wymer's bankruptcy is resolved.
CALIFORNIA | LOCAL
October 1, 1992 | ANTHONY MILLICAN, TIMES STAFF WRITER
Torrance officials say they remain skeptical that they will recover money lost to Orange County financier Stephen D. Wymer, who pleaded guilty in federal court Tuesday to having bilked more than 60 government entities of millions of dollars. Torrance Mayor Katy Geissert said she doubts that Wymer has the means to repay the city $6.2 million in investment funds lost through the money manager. "For our purposes, that money is gone," Geissert said. Nevertheless, City Atty. Kenneth L.
NEWS
December 30, 1992 | GREGORY CROUCH, TIMES STAFF WRITER
Perhaps more than any other period in Orange County's 103-year history, 1992 will be remembered as the year of scandal. Once christened the Cook County of California--a reference to the legendary corruption in the Chicago area--Orange County outdid itself this year, at least in terms of the staggering sums and variety of allegations involved.
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