A former executive at Western Asset Management (WAM) has alleged that star investor Ken Leech's suspicious trades extended back a decade. This new information suggests a potentially much longer period of alleged misconduct than previously disclosed in the ongoing federal investigations.
The expanded timeline of alleged suspicious activities could significantly broaden the scope of the SEC and DOJ investigations into Mr. Leech's trade allocations. This may lead to more extensive legal and financial scrutiny for Western Asset Management and its parent company, Franklin Resources, Inc.
Such allegations further compound the reputational damage and operational challenges faced by WAM. The firm continues to navigate the fallout from these serious claims, which could have deeper implications for its historical performance and client trust.
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