Financier Jeffrey Leo is a Director of Steelworks Investments Limited, the company which wholly owns Brogan Capital Ventures. He is also the director and sole owner of Leo Financial Services Limited.
The United States Financial Industry Regulatory Authority (FINRA), the independent regulator of the financial securities sector in the United States, barred Leo from acting as a broker for having failed to “respond to FINRA requests for information for alleged violations of outside business activities and private securities transactions.”
Among the allegations which were made against Leo were of having engaged in “Fraud, misrepresentation and concealment, invasion of privacy, negligence, violation of the racketeer influenced corrupt organisation act (RICO), unjust enrichment.”
As a consequence of Leo’s failure to adequately address the issues raised, “FINRA has barred this individual from acting as a broker or otherwise associating with a broker-dealer firm.”
Leo was issued with a permanent bar on July 7, 2010. A comparison of Jeffrey C Leo’s Linkedin page, which mentions his connection to Steelworks and Brogan Capital, to his FINRA registration record which mentions most of the same companies he lists on Linkedin confirms that it is the same person.
Payments have been made by the Department of Children, Equality, Disability, Integration and Youth (DCEDIY) to Brogan Capital Ventures Limited for the accommodation of refugees.
They have received more than €1.7 million in payments for the last quarter of 2023 and the first quarter of 2024.
Between the beginning of 2022 and the end of March 2024, Brogan Capital Ventures has received €5,558,023 in payments from the Department for the provision of accommodation.
Dundrum House Hotel was reportedly purchased with equity from the billionaire poultry farm owning Wennings based in Fort Recovery, Ohio. Their Irish registered entity is the Wennings Holdings Limited, which was put into voluntary liquidation in 2023.
In the E1 solvency declaration signed by Jeff Leo, as a director, he declared that Wenning Holdings has no assets and no liabilities. He also declared that the company would be in a position to “pay or discharge its debts and other liabilities in full” within 12 months of the commencement of the winding up.
Brogan Capital Ventures is described by Orbis, the global company data information source, as being a “controlled subsidiary” of Wenning Holdings Limited which has the “controlling interest” in Steelwork Investments and, through that, Brogan Capital Ventures. That entry is based on filings for the year ended 31/12/2022. However Gript understands that the situation has changed since that filing and Leo Financial Services, which is wholly owned by Jeffrey Leo, now holds the controlling interest in Steelworks Investments.
Gript has asked the Department of Integration and Minister Roderick O’Gorman what policies it has in place to ensure appropriate corporate governance in companies providing the state with services, in particular when financial reports have not been filed for several years. No substantive response, other than an acknowledgement that the email was directed to another section was received.
Credit @gript media.
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