Paul Wright, who lives in Maynooth, owns Wright Private Office DAC which has been revealed as a company not authorised by the Central Bank
An Irish firm controlled by a Kildare businessman - who is currently being sued in the US for alleged fraud - is not authorised by the Central Bank, the regulator has confirmed.
The Irish Independent reported last week that Paul Wright, originally from London but who now lives at Leinster Wood South, Carton Demense in Maynooth, is being sued in the US amid claims that he used investors' funds to fly on private jets, stay at luxury hotels and fuel an alleged drink and drugs habit.
Now The Irish Independent has reported that a spokesperson for the Central Bank of Ireland has confirmed that Wright Private Office DAC, owned by Mr Wright, is not authorised by the regulator.
It is likely the Central Bank will now closely monitor Mr Wright's firm, as it is unclear if it is required to be authorised.
The Wright Private Office currently advertises "investment opportunities" with one of its partners, stating that those who invest $2m (€1.8m) will receive $4m (€3.6m) within 30 banking days.
The partner they refer to is not disclosed.
Mr Wright also owns Eterna Private Clients Europe.
Mr Wright is alleged to have claimed he had been a member of the UK's elite military unit, the SAS, and that his family has also worked for the Royal family in Britain.
Mr Wrights and these two companies are currently being sued in the US by Florida firm TMCT PLLC, which trades as Thompson PLLC.
The lawsuit alleges that Mr Wright's "fraudulent activities", as mentioned above, have caused his "victims" to suffer losses of more than $10m.
Thompson PLLC is owned by Ms Cherish Thompson, and the firm has claimed her business was now owed $221,000 by the defendants.
Solicitors for Mr Wright say he "vehemently denies" the allegations and has described them as "outlandish and unfounded".
They say they will defend the proceedings in full.
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