Rust on Leatherman wave

I lent my leatherman to my son who worked for a sailing school shore base over the summer. Now got Leatherman back with rust on the body, on the pliers. Also rust at base of various pull out bits so now very stiff.

Now applying lots of 3 in 1

Shouldn't a leatherman be made of non-rust stainless?

TS

Hi, On a training course out of Southhampton with On Deck training some years ago my mate Jeff droped the skippers Leatherman Wave over the side.The skipper was not best pleased to say the least!When it was mentioned that it cost a lot of dough and was the special sailing version my mate Jeff asked why it did not float! Jeff replaced it-he sent one attatched to a bright yellow rubber duck!That story earned me £25.00 from PBO.
 
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