BANKING & FINANCE - Jan. 15, 1992

City of Orange Describes Alleged Wymer Scam: The $7.1 million that the city of Orange believed that it was placing in a New York bank so it could be invested was misappropriated before it arrived at the bank, an attorney for the city alleged. Newport Beach money manager Steven D. Wymer placed the money in an account controlled by his firm, Denman & Co. of Irvine, in 1989 and sent Orange a forged document purporting to confirm that the account at Security Pacific Trust Co. had been opened in the city’s name, attorney Michael B. Jeffers said. Denman then sent fake statements--and interest payments--that duped the city into believing for two years that its money was safe with Security Pacific Trust, Jeffers said. Wymer’s attorneys had no immediate comment.