US businessman whose firm invested in European soccer clubs pleads guilty to fraud
He agreed to pay $500 million in restitution after prosecutors said he used 777 Partners to mislead lenders and investors with false assets and bank statements.
- Josh Wander, co-founder of Miami-based 777 Partners, pleaded guilty Thursday in Manhattan federal court to wire and securities fraud charges tied to a $500 million scheme defrauding investors and lenders.
- Wander admitted borrowing money in 2021 and 2022 based on exaggerated financial data while directing 777 employees to digitally alter bank statements and double-pledge assets to secure loans from victims.
- US Attorney Jamie McDonald said Wander "put those funds to uses that his lenders never permitted, including footing the bill for 777's collection of professional soccer teams" and regional airlines like Bonza.
- Judge Paul Oetken set sentencing for March 1, when Wander faces up to 40 years in prison; Wander agreed to forfeit at least $500 million in restitution to defrauded investors.
- European soccer body UEFA flagged multi-club ownership as a threat to game integrity in a player trading industry worth more than $10 billion annually, with this case exemplifying risks when such investments fail.
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43 Articles
Ex-Hertha investor Josh Wander (45) has pleaded guilty to financial fraud, hoping for a pardon from US President Donald Trump
The former Hertha investor Joshua Wander admits a million-dollar fraud. With his company 777 partners he invested in several football clubs. Now a long prison sentence threatens him.
volksfreund.de
saarbruecker-zeitung.deThe former Hertha investor Joshua Wander admits a million-dollar fraud. With his company 777 partners he invested in several football clubs. Now a long prison sentence threatens him.
The entrepreneur has to answer for his business in court. Meanwhile, the Berliner Historisches want to create. Hertha-News in the blog.
At Hertha BSC he was supposed to make Lars Windhorst forget and became an investor annoyance himself: Now Joshua Wander is guilty of a fraud of 500 million US dollars. With his investment company 777 partners he also used Hertha for the eclat.
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