Wary that man Miliband fleeces unsuspecting Labour leaders (7)

I haven't cracked this one yet — but the brilliant team at Fifteensquared have:

HE (that man) + ED (reference ED Milliband [born 1969], current UK Secretary of State for Energy Security and Net Zero) + FUL ( first letters of [leaders] each of F LEECES, U NSUSPECTING and L ABOUR)