Judge Places Wymer’s Bail at $600,000 : Court: Prosecutors say they have new evidence that the alleged securities swindle was larger than first thought.

A federal judge Thursday set bail at $600,000 for Newport Beach investment adviser Steven D. Wymer but ordered stiff conditions, including electronic surveillance, to ensure that the 43-year-old money manager does not flee.

But even as Wymer’s lawyers were trying to arrange his release as early as today, prosecutors said they have uncovered new evidence that Wymer’s alleged securities swindle was much broader than originally believed. They said they would likely bring additional criminal charges against him.

Prosecutors alleged that Wymer made hundreds of fictitious trades with his clients’ money beginning in 1986 and “is personally responsible for the misappropriation of $113 million in victim funds” belonging to dozens of cities, counties and other small government agencies in California, Colorado and Iowa.

Wymer has pleaded not guilty to 30 counts of securities fraud, mail fraud, money laundering, obstruction of justice and other federal criminal charges that carry maximum penalties of 275 years in jail and $140 million in fines.

Assistant U.S. Atty. James R. Asperger, arguing that Wymer should not be released on bail, said that since the Securities and Exchange Commission began investigating Wymer in October, he liquidated at least $1.5 million in cash, put property in his wife’s maiden name and into trust and sold a Porsche, his collection of classic cars and at least one boat.

But at Thursday’s bail hearing, U.S. District Judge Richard A. Gadbois Jr. rejected prosecution arguments that Wymer might run off with the missing $113 million or pose an economic danger to the community.