When US businessman and disbarred former broker Jeff Leo decided to shut down Irish investment vehicle Wennings Holdings Ltd (WHL) in September 2023, he made a series of decisions that would open up a Pandora’s box of trouble. Over the years, wealthy Ohio poultry farmers Mary and James Wenning had poured circa $60 million (€50.4 million) through WHL into Steelworks Investments Ltd, now in liquidation, an Irish property investment entity majority owned by the Wennings along with Leo. Described by Leo in the witness box last November as a “very loose relationship” based on trust and handshakes, the Wennings’ investment…

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