SECURITIES

City of Orange Sues Brokerage: Refco Securities Inc. in New York and an employee, Kimberly Goodman, have been sued by the City of Orange, which lost nearly $7 million with Newport Beach investment adviser Steven D. Wymer. Orange said Wymer bought Goodman, the employee who handled Orange’s account at Refco, a Jaguar and a Mercedes and that she conspired with him to cheat the municipality. Goodman and Wymer forged documents to persuade city officials that its $7-million investment was safe, according to the suit. When the Securities and Exchange Commission shut Wymer down last December, Orange learned that its account contained just $4,032.