Josh Wander, co-founder of 777 Partners, faces serious accusations linked to a fraud scheme exceeding $500 million. His firm attempted to acquire Premier League club Everton but ultimately failed to secure the deal.
Details of the Fraud Case
Federal prosecutors in Manhattan charge Wander with multiple offenses, including conspiracy to commit wire fraud and securities fraud. Allegations indicate that he manipulated financial documents to misrepresent the condition of 777 Partners.
- Charge Overview:
- One count of conspiracy to commit wire fraud.
- One count of wire fraud.
- One count of securities fraud.
- One count of conspiracy to commit securities fraud.
- Potential Sentences:
- Wire fraud and securities fraud: Up to 20 years each.
- Conspiracy to commit securities fraud: Up to 5 years.
Background of the Case
Wander, 44, allegedly orchestrated a scheme to defraud private lenders and investors by providing false financial data. U.S. Attorney Jay Clayton described the financial image projected by Wander as “an illusion of stability” that crumbled over time.
The investigation revealed that Wander misled investors about the firm’s asset ownership and financial obligations. Furthermore, he invested in high-risk sectors like streaming services and professional sports teams without adequate funding, violating trust with investors.
The Attempt to Acquire Everton
777 Partners’ bid to acquire Everton, labeled the Toffees, occurred in June 2024 but did not materialize. In December of the same year, the club was purchased by the Friedkin Group from previous owner Farhad Moshiri.
Legal Representation and Response
Jordan Estes, Wander’s attorney, refutes the allegations, claiming that the case is a mischaracterization of a business dispute. He expressed confidence in the ability to clear Wander’s name.
This case draws attention not only for its scale but also for the implications it holds for investment practices in high-profile sports transactions.
