SEC Pursues Final Judgment Against Former Western Asset Co-CIO Ken Leech
Photo: Blockchain.News
The U.S. Securities and Exchange Commission (SEC) announced on October 6, 2026, that it is seeking a final judgment by consent against Stephen Kenneth "Ken" Leech II, the former co-chief investment officer of Western Asset Management Company LLC. This development follows allegations of a multi-year fraudulent "cherry-picking" scheme that has been under investigation since 2024. According to SEC filings, the alleged scheme involved Leech delaying the allocation of trades until after observing their first-day performance. The SEC claims that favorable trades were assigned to preferred portfolios while less favorable trades were directed to other portfolios, disadvantaging certain clients.
Source: Blockchain.News
