777 Partners co-founder Josh Wander pleads guilty to fraud

Josh Wander pleaded guilty to wire and securities fraud in Manhattan federal court in New York on Thursday.

The 45-year-old co-founded Miami-based investment firm 777 Partners, which invested in several soccer clubs.

Wander admitted he borrowed money in 2021 and 2022 using figures that overstated the firm’s assets.

Prosecutors said the firm also pledged assets it did not own and falsified bank statements to deceive lenders and investors.

Wander agreed to repay $500 million in losses to investors and will remain free on bail until sentencing.

He could face up to 40 years in prison, with sentencing set for March 1.

777 Partners’ soccer investments included clubs in Germany, Italy, Belgium and Brazil, and its failed attempt to buy English club Everton drew scrutiny as questions about the firm arose.