Pearce Barred From Industry in SEC Deal

WASHINGTON - James A. Pearce, the former marketing director and salesman for Steven D. Wymer, has been barred from the securities industry in a settlement agreement with the Securities and Exchange Commission.

The SEC announced the agreement yesterday, saying Pearce, who formerly worked for Denman & Co. and Institutional Treasury Management, two investment advisory firms owned by Wymer, neither admitted nor denied the charges.

The SEC charged that Pearce created and distributed fraudulent marketing materials and misrepresented investments in a scheme in which he and Wymer defrauded state and local governments and other advisory clients out of about $209 million.

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