Former star US bond manager Kenneth Leech pleads guilty to obstructing ’cherry-picking’ probe

Former Western Asset manager Kenneth Leech has pleaded guilty to obstructing an SEC probe. The investigation focused on 'cherry-picking' practices within US bond management. This legal development underscores the necessity for rigorous oversight in asset management and may lead to additional regulatory actions. Leech's admission of guilt highlights the legal consequences faced by industry professionals who interfere with federal investigations into financial misconduct and the manipulation of investment accounts for unfair gains.