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Wamco's Leech Pleads Not Guilty in $600 Million Fraud Case [Yahoo! Finance Canada]

Franklin Resources, Inc. (BEN) 
Last franklin resources, inc. earnings: 4/30 08:30 am Check Earnings Report
Most Read from Bloomberg Leech, 70, the former co-chief investment officer at Western Asset Management Co., faces federal charges that he steered more than $600 million in gains to favored clients while forcing losses on others. Standing with his lawyers at a hearing in federal court in New York, Leech entered not guilty pleas to all of the US charges. The criminal charges — filed in parallel with a Securities and Exchange Commission lawsuit — follow a bruising year for Wamco, which has been bleeding investors since it disclosed US authorities were looking into Leech's trading. Pension funds and other big clients have yanked vast sums, about $65 billion so far, with more withdrawals in the works. At an earlier hearing Monday, Leech, was granted bail on a $10 million bond by Magistrate Judge Katharine Parker. In addition to the bond, Leech surrendered his passport and will limit his travel to the continental US. Investigators claim Leech routinely waited to assign winning trad Show less Read more
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