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Steven D Wymer

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BUSINESS
July 18, 1996 | JAMES S. GRANELLI, TIMES STAFF WRITER
Cities from Orange County to Iowa that were bilked out of more than $100 million by convicted swindler Steven D. Wymer can collect proportionate shares of any proceeds from the sales of Wymer assets, a federal appeals court ruled Tuesday. The U.S. 9th Circuit Court of Appeals rejected an effort by a Palm Desert agency to get a bigger chunk of the proceeds.
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CALIFORNIA | LOCAL
July 23, 1997 | MICHAEL G. WAGNER TINA NGUYEN and LESLEY WRIGHT, SPECIAL TO THE TIMES
Two scandals that cost the city of Orange millions of dollars and happened several years apart each came to a head Tuesday with good news on both fronts. First, the city won a $4.2-million judgment stemming from a suit involving Steven D. Wymer of Newport Beach, who defrauded Orange and other cities of $105 million.
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BUSINESS
May 9, 1992 | From Associated Press
A federal judge on Friday ordered a bank to return $43 million apparently transferred from the Iowa Trust Fund by Orange County money manager Steven D. Wymer. U.S. District Judge Lewis T. Babcock rejected arguments by Jefferson Bank & Trust that $43 million deposited Nov. 25 came from a source other than Wymer. Babcock stayed his order 10 days to give Jefferson Bank a chance to appeal.
BUSINESS
July 18, 1996 | JAMES S. GRANELLI, TIMES STAFF WRITER
Cities from Orange County to Iowa that were bilked out of more than $100 million by convicted swindler Steven D. Wymer can collect proportionate shares of any proceeds from the sales of Wymer assets, a federal appeals court ruled Tuesday. The U.S. 9th Circuit Court of Appeals rejected an effort by a Palm Desert agency to get a bigger chunk of the proceeds.
BUSINESS
September 6, 1995 | JAMES S. GRANELLI, TIMES STAFF WRITER
Two former salesmen for convicted swindler Steven D. Wymer's municipal investment operation were sued by securities regulators Tuesday over their role in allegedly helping Wymer's Newport Beach companies bilk $105 million from cities from Orange County to Iowa. Former marketing director James A. Pearce, 49, of Newport Beach, and salesman Steen Ronlov, 50, of Northglenn, Colo., outside Denver, were accused of receiving a total of nearly $2.3 million in ill-gotten gains.
CALIFORNIA | LOCAL
January 23, 1992 | MARY HELEN BERG, SPECIAL TO THE TIMES
Responding to the $7-million investment fraud scandal that has shocked the city, the City Council has authorized a detailed audit of the city's treasury and investment policies and balked at increasing even supposedly safe investments until the audit is complete. City officials say they hope the review will help spot and repair holes in the city's money management system while authorities try to unravel the misappropriation scheme allegedly masterminded by Steven D. Wymer of Newport Beach.
BUSINESS
January 5, 1992 | SONNI EFRON, TIMES STAFF WRITER
Under your Christmas tree, did you find gift-wrapped copies of "Gunrunning for Fun and Profit," "Take No Prisoners: Destroying Enemies With Dirty and Malicious Tricks," or "Above The Law: The Complete Guide to Obtaining Diplomatic Immunity" by an author called "Ambassador X"? No? Then you must not be on Michael Hoy's mailing list. Hoy, a former accountant once dubbed "Conan the Librarian," is the publisher from Hell. His company, Loompanics Unlimited of Port Townsend, Wash.
BUSINESS
January 3, 1992 | SONNI EFRON, TIMES STAFF WRITER
Newport Beach investment adviser Steven D. Wymer was indicted Thursday on 30 counts of securities fraud, mail fraud, money laundering, obstruction of justice and other federal charges stemming from the alleged loss of more than $100 million of his clients' money. Wymer's attorney, Paul N. Murphy, said he assumed that the 43-year-old money manager will plead innocent to all charges at his arraignment Monday.
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
September 6, 1995 | JAMES S. GRANELLI, TIMES STAFF WRITER
Two former salesmen for convicted swindler Steven D. Wymer's municipal investment operation were sued by securities regulators Tuesday over their role in allegedly helping Wymer's Newport Beach companies bilk $105 million from cities from Orange County to Iowa. Former marketing director James A. Pearce, 49, of Newport Beach, and salesman Steen Ronlov, 50, of Northglenn, Colo., outside Denver, were accused of receiving a total of nearly $2.3 million in ill-gotten gains.
BUSINESS
May 12, 1995
The City of Orange and other Southern California municipalities and public agencies have asked the state Supreme Court to reactivate a lawsuit that seeks $40 million from convicted former investment adviser Steven D. Wymer. Orange, which recouped only $280,000 of $7.2 million it lost in Wymer's fraudulent investment schemes, joined with 13 other cities and agencies in asking the high court to lift a stay imposed on the case.
CALIFORNIA | LOCAL
February 11, 1995 | MARK LANDSBAUM, TIMES STAFF WRITER
Securities dealer Daniel Osborn denied Friday that he received fraudulent commissions while a business associate of convicted swindler Steven D. Wymer, as alleged in a civil complaint filed by the Securities and Exchange Commission. The SEC on Monday alleged that Osborn, through his broker-dealer DLO Securities Inc., formerly of Irvine, had charged excessive and undisclosed markups in transactions with Wymer's Institutional Treasury Management Inc.
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
July 1, 1993 | JAMES S. GRANELLI, TIMES STAFF WRITER
Mayor John J. Pena said Wednesday that the city of La Quinta has collected $8.7 million in settling a lawsuit over funds it withdrew from accounts held by convicted Newport Beach money manager Steven D. Wymer. The city, which withdrew $10.7 million from Wymer's control just before his investment scheme collapsed in late 1991, agreed to turn $2 million over to a consortium of Iowa municipalities and public entities that had also invested with Wymer.
BUSINESS
May 12, 1993 | MICHAEL FLAGG, TIMES STAFF WRITER
Steven D. Wymer, the former Newport Beach investment adviser who stole $92 million from clients, was sentenced Tuesday to 14 1/2 years in prison for what federal prosecutors said was one of the nation's biggest and most devastating financial scams. U.S. District Judge Richard A. Gadbois Jr. in Los Angeles said he was recognizing Wymer's cooperation with prosecutors and other public officials in sentencing him to a prison term that was slightly shorter than prosecutors had sought.
BUSINESS
January 16, 1992 | From Times Staff and Wire Reports
First Civil Lawsuits Filed in Wymer Case: The cities of Loma Linda and La Quinta have filed lawsuits against Newport Beach investment adviser Steven D. Wymer to try to recover about $16.8 million in allegedly misappropriated funds, the cities' attorney said. The civil claims are the first from 10 California cities that lost a total of about $45 million they had entrusted to Wymer for what they believed would be low-risk investments in U.S. government securities.
BUSINESS
September 29, 1992 | From Times Staff and Wire Reports
Money Manager to Plead Guilty: A Newport Beach investment manager accused of cheating governments out of $100 million will plead guilty to nine counts, help trace the losses and forfeit his own assets to the victims, his lawyer said. Steven D. Wymer believes that cooperating with authorities and the small agencies that trusted their money to him is the best thing for everyone, said attorney Mark Roberts.
NEWS
May 12, 1993 | MICHAEL FLAGG, TIMES STAFF WRITER
Steven D. Wymer, the Newport Beach investment adviser who stole $92 million from clients, was sentenced Tuesday to 14 1/2 years in prison for what prosecutors said was one of the nation's biggest and most devastating financial scams. It was a victory for prosecutors, who had said Wymer should serve 15 1/2 to 19 1/2 years. In pleading guilty and agreeing to pay $92 million in restitution, Wymer had asked for a sentence of less than 10 years.
BUSINESS
May 5, 1993 | MICHAEL FLAGG, TIMES STAFF WRITER
Dozens of Iowa cities defrauded by Newport Beach investment adviser Steven D. Wymer said Tuesday that they won a big victory when a federal appeals court agreed that $44 million in a Colorado bank belonged to them. Wymer pleaded guilty in September to defrauding cities in Iowa and California of what prosecutors said was $105 million. He is to be sentenced in Los Angeles next week.
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