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The co-founder of the investment firm 777 Partners, Josh Wander, has been accused of defrauding lenders and investors of over $500 million. Manhattan federal prosecutors in the United States claim that Wander utilized fake financial documents to inflate the finances of 777 and misled individuals about the firm’s financial condition. The bid made by 777 to purchase Premier League club Everton in 2024 did not materialize, with the Friedkin Group eventually acquiring the club later that year.
US attorney Jay Clayton stated that Wander allegedly deceived private lenders and investors by making false declarations about 777’s financial state. Special agent in charge Ricky J Patel described the representation of 777’s finances as a “years-long house of cards.” Wander reportedly delved into new sectors with uncertain cash-flow profiles, including investments in streaming platforms, airlines, and sports teams such as Sevilla FC and Genoa CFC, starting in 2018.
The prosecutors claim that Wander was aware that the group did not possess the necessary funds or had already committed them to other lenders. Despite this, Wander allegedly tried to cover up the situation. Wander, who hails from Miami, Florida, is facing charges of wire fraud, securities fraud, and conspiracy to commit securities fraud, which could each result in a maximum sentence of up to 20 years in prison. His lawyer, Jordan Estes, has denied all charges, labeling the case as a mere “business dispute” in disguise
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