US Charges Top Bond Manager, Former Wamco Co-CIO Kenneth Leech, With Fraud
NEW YORK (Reuters) - Kenneth Leech, the former co-chief investment officer of Western Asset Management Co, was criminally charged on Monday with running a more than $600 million "cherry-picking" scheme in which he fraudulently favored some clients' accounts over others when allocating trades.
Former Wamco Exec Charged With $600M 'Cherry-Picking' Fraud
Ken Leech faces charges of investment adviser fraud, securities fraud, commodity trading adviser fraud and commodities fraud, as well as a charge of making false statements, which collectively expose him to a potential 65-year prison sentence.
Renowned WAMCO Bond Fund Manager Ken Leech Charged With $600M Fraud
Federal prosecutors have brought fraud charges against world-renowned bond fund manager Ken Leech, saying he committed fraud by directing more than $600 million in profitable, cherry-picked trades to certain client portfolios while shunting the same amount in losses to others.
Ken Leech Faces Fraud Charges in $600M Scheme
Federal prosecutors have charged Ken Leech, former chief investment officer of Western Asset Management Co. (Wamco), with orchestrating a $600 million "criminal cherry-picking scheme," according to an indictment unsealed Monday in New York federal court.
Ex-Wamco CIO Ken Leech Charged Over Trade Allocation Scheme
Ken Leech, the former co-chief investment officer for Western Asset Management Co., was accused by US authorities on Monday of improperly allocating trades to favored clients in a dramatic turn for the once-star trader.
Leech Shunted $600 Million to Favored Portfolios, US Claims
At first blush, the US case against star bond trader Ken Leech centers on a quirk in procedures: The former co-chief investment officer for Western Asset Management Co. placed his daily bets, then let hours lapse before assigning them to client portfolios.
US charges former Wamco co-CIO Kenneth Leech with fraud
Kenneth Leech, the former co-chief investment officer of Western Asset Management Co, was charged by U.S. authorities on Monday with running a fraudulent "cherry-picking" scheme where he improperly favored some clients' accounts over others when allocating trades.
Federal Prosecutors Charge Star Bond Investor Ken Leech With Fraud
Federal prosecutors on Monday charged longtime bond investor Ken Leech with fraud, alleging he cherry-picked a series of trades to favor some clients while shifting losses to others.Leech, the former chief investment officer and star trader at Franklin Templeton subsidiary Western Asset Management,
Star bond fund manager Ken Leech charged with $600M fraud
Federal prosecutors charged Ken Leech, one of the world's best-known bond fund managers, with a $600 million fraud on Monday. Why it matters: Leech, the former co-chief investment officer of Western Asset Management Co.
US charges top portfolio manager, former Wamco co-CIO Kenneth Leech, with fraud
Kenneth Leech, the former co-chief investment officer of Western Asset Management Co, was criminally charged on Monday with running a more than $600 million "cherry-picking" scheme where he fraudulently favored some clients' accounts over others when allocating trades.
Ken Leech Charged by Prosecutors Over Scheme to Allocate Trades
Former Western Asset Management Co. co-Chief Investment Officer Ken Leech was charged by US authorities with engaging in an alleged “cherry-picking” scheme to unfairly allocate better-performing trades to favored portfolios and worse-performing trades to others.
Bond trader at Pasadena firm shunted $600 million to favored portfolios, U.S. claims
The Justice Department and US Securities and Exchange Commission accused Leech, 70, of routinely waiting and assigning ...
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Leech Shunted $600M to Favored Portfolios: SEC, DOJ
Leech was charged with investment advisor fraud and securities fraud, each of which carries a maximum sentence of 20 years in ...
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