Kenneth G. Leech, former executive of Western Asset Management Co. (Wamco), has reportedly been charged with fraud by U.S. authorities. He is being accused of allegedly manipulating bond prices to make his fund appear more profitable than it actually was and deceiving investors.
As of yet, no further details have been made available regarding the charges or any potential court dates. If convicted, Leech could face severe penalties, including prison time, fines, and restitution to victims of the alleged fraud. It’s important to note that these charges are currently allegations and Kenneth Leech is presumed innocent until proven guilty in a court of law.
