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Leech Shunted $600M to Favored Portfolios: SEC, DOJ
November 26, 2024 at 10:29 AM
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What You Need To Know
- Regulators accused the former co-CIO of Western Asset Management, now 70, of routinely waiting and assigning winning trades to accounts that produced the most revenue.
- He could face 20 years in prison.
- With Leech receiving roughly half of the firm’s profits as cash bonuses, the uncanny pattern could also fatten his wallet, the SEC said.
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