The U.S. authorities have recently charged Kenneth Leech, a former executive of Western Asset Management Co., often referred to as Wamco, with fraud. Leech is accused of engaging in fraudulent practices concerning the valuation of the company’s assets, which potentially led to misrepresentation of the company’s financial health to investors. The charges were filed by the U.S. Securities and Exchange Commission (SEC). The SEC is responsible for enforcing federal securities laws and regulating the securities industry. For more specific details about the charges and the ongoing legal procedures, please refer to the latest news updates or official SEC announcements.
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