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- Bloomberg
Ken Leech Shunted $600 Million to Favored Portfolios, US Claims
(Bloomberg) -- 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.Most Read from BloombergNew York City’s ‘Living Breakwaters’ Brace for Stormier SeasIn Kansas City, a First-Ever Stadium Designed for Women’s Sports Takes the FieldNYC's Underground Steam System May Be Key to a Greener FutureNYC
- The Wall Street Journal
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, allegedly assigned over $600 million in gains to favored clients and $600 million in losses to others, according to an indictment unsealed in Manhattan federal court Monday. The Securities and Exchange Commission also charged Leech in a separate action.
