"Josh Wander was a co-founder of Miami-based 777 Partners that owned stakes in an Australian airline, plus soccer clubs Hertha Berlin in Germany, Genoa in Italy, Standard Liege in Belgium, and Vasco da Gama in Brazil. The 777 story became a cautionary tale in the global soccer trend of multi-club ownership - investors taking stakes in several clubs in different countries."
"Wander and 777 had failed last year in targeting their biggest capture in soccer, nine-time English champion Everton, amid increasing scrutiny of the business and a lawsuit in New York from a London-based investor. Reporting about 777's soccer interests, led by Norwegian soccer magazine Josimar, intensified even before Wander was elected to a board seat at the influential European Club Association, a network of hundreds"
Josh Wander, co-founder of Miami-based 777 Partners, was indicted in Manhattan on charges of wire fraud, securities fraud and conspiracy in an alleged $500 million scheme. Prosecutors allege he used 777 Partners to cheat private lenders and investors by pledging assets the firm did not own, falsifying bank statements and making material misrepresentations about the firm’s financial condition. 777 Partners held stakes in multiple soccer clubs and an Australian airline. European soccer authorities have warned that multi-club ownership threatens game integrity and the $10 billion-plus player trading industry. Wander faces charges carrying up to 20 years; his lawyer calls it a business dispute.
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