US businessman pleads guilty to soccer fraud scheme

Summarised from 2 outlets · Updated 15 Oct, 22:32 · Archive

Josh Wander, co-founder of 777 Partners, pleaded guilty to wire and securities fraud in New York.

Josh Wander, 45, co-founder of Miami-based investment firm 777 Partners, pleaded guilty to wire fraud and securities fraud charges in Manhattan federal court on Thursday. He admitted to borrowing money in 2021 and 2022 using inflated asset numbers. Before Judge J. Paul Oetken, Wander said: 'At the time that I did these things I knew what I was doing was wrong, and I am deeply sorry for my conduct.' He agreed to pay $500 million in restitution to investors and will remain free on bail pending sentencing on March 1, when he could face up to 40 years in prison.

Wander's firm moved heavily into soccer from 2021, buying stakes in financially distressed clubs recovering from COVID-19 lockdowns. 777 Partners owned stakes in Hertha Berlin in Germany, Genoa in Italy, Standard Liege in Belgium and Vasco da Gama in Brazil, as well as an Australian airline. In 2024, Wander and 777 failed in their largest soccer venture, unable to buy English Premier League club Everton as questions about the business emerged and a London-based investor filed a lawsuit in New York.

How it is being reported

• US businessman whose firm invested in European soccer clubs pleads guilty to fraudAn American businessman whose firm invested in several European soccer clubs that struggled under its ownership has pleaded guilty to fraud charges in New York.Clickorlando · 15 Oct, 21:32
• US businessman whose firm invested in European soccer clubs pleads guilty to fraudAn American businessman whose firm invested in several European soccer clubs that struggled under its ownership has pleaded guilty to fraud charges in New York.News4Jax · 15 Oct, 21:32

In this story: Josh Wander · 777 Partners · Manhattan · Hertha Berlin · Genoa · Standard Liege · Vasco da Gama · Everton

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