Josh Wander, the 44-year-old co-founder of Miami-based investment firm 777 Partners, once cut an impressive figure in the world of finance and sports. He ran his private investment firm from a glitzy Brickell Avenue address, enjoyed floor seats at Miami Heat games, and was a regular at Miami Beach’s famed LIV nightclub. His firm invested hundreds of millions of dollars in legal settlements, a Canadian airline, Boeing aircraft, and even soccer teams across Europe and beyond. But this week, the high-flying businessman’s world came crashing down as federal prosecutors in New York charged him with defrauding lenders and investors of nearly $500 million.
According to prosecutors in the Southern District of New York, Wander used 777 Partners to cheat private lenders and investors out of hundreds of millions of dollars by pledging assets the firm did not own, falsifying bank statements, and making other material misrepresentations about the company’s financial condition. As US attorney Jay Clayton stated, “Wander used his investment firm, 777 Partners, to cheat private lenders and investors out of hundreds of millions of dollars by pledging assets that his firm did not own, falsifying bank statements, and making other material misrepresentations about 777’s financial condition.” Special agent in charge Ricky J Patel added that the picture Wander painted of 777’s finances was “an illusion of stability that was a years-long house of cards,” as reported by BBC.
The indictment, which was made public on October 17, 2025, alleges that from as early as 2018, Wander started investing in new sectors with less certain cash-flow profiles, including streaming platforms, airlines, and professional sports teams such as Spain’s Sevilla FC and Italy’s Genoa CFC. According to prosecutors, he did this knowing that the Miami-based group either did not have the funds or had already pledged those assets to other lenders, attempting to conceal the true state of the firm’s finances.
These charges come after a string of high-profile business moves by 777 Partners, most notably their failed attempt to acquire English Premier League club Everton in 2024. The deal fell through in June of that year, before the Friedkin Group ultimately bought the club from Farhad Moshiri in December 2024. Wander’s ambitions in the world of sports ownership were hardly a secret. In a 2023 interview with The Financial Times, he boasted, “Is there anyone in the world that’s been more serious about buying football clubs in history than Josh Wander?” reported The New York Times. However, as the Times later pointed out, these investments failed to stabilize the clubs, many of which continued to struggle with payroll and uncertain futures.
Wander’s legal troubles now extend beyond the criminal charges. A parallel civil case has been filed by the Securities and Exchange Commission (SEC), naming Wander, co-founder Steven Pasko, former Chief Financial Officer Damien Alfalla, 777 Partners, and a subsidiary as defendants. The SEC’s complaint echoes the criminal allegations, accusing Wander and his associates of inflating the firm’s financial performance and concealing the unsanctioned use of loans and investments. Between 2021 and 2024, prosecutors allege, Wander collaborated with others to exaggerate 777 Partners’ assets and sell preferred equity in the firm based on misrepresentations. In one instance detailed in the indictment, Wander pledged more than $350 million in assets as collateral to private lenders, knowing that 777 Partners either did not own the collateral or had already pledged it elsewhere. He also allegedly obtained more than $100 million from investors by selling equity based on false claims about the company’s financial health.
Wander is now facing one count of conspiracy to commit wire fraud, one count of wire fraud, and one count of securities fraud—each carrying a maximum sentence of 20 years in prison—as well as one count of conspiracy to commit securities fraud, which carries up to five years. He is scheduled to make his first appearance in Manhattan federal court on Tuesday, where he is expected to enter a not-guilty plea at his arraignment.
Wander’s defense attorney, Jordan Estes, has pushed back against the charges, telling Bloomberg, “This is a business dispute dressed up as a criminal case. We look forward to setting the record straight.” Wander himself has denied all wrongdoing, maintaining that the allegations are merely the result of failed business ventures rather than criminal conduct.
The fallout from Wander’s alleged actions has been significant. In May 2024, 777 Partners’ British subsidiary was declared bankrupt by a UK court, and the Miami business was placed into a limited partnership. According to The New York Times, one of 777 Partners’ largest lenders, A-Cap—an owner of several insurance businesses—has since taken control of the firm’s sports assets. Another major lender, Leadenhall Capital Partners, has filed suit against Wander and others, seeking to recover hundreds of millions of dollars in losses.
Wander and his co-founder, Steven Pasko, along with former CFO Damien Alfalla, all left the company in May 2024, leaving its remnants in the hands of restructuring firm GlassRatner Advisory & Capital Group, LLC. In a statement, the firm’s lawyer, Jon Sale, said it “has worked cooperatively with the Department of Justice in the investigation.” Sale also emphasized that “Wander has not been in a position of management with the company since May 2024, and that all the alleged conduct in the indictment took place while Wander was at the company.”
The story of Josh Wander and 777 Partners is a cautionary tale of ambition, risk, and alleged deception at the highest levels of finance and sport. For years, Wander enjoyed the trappings of success, making headlines around the world for his bold investment strategies and audacious claims. Yet, as federal prosecutors now allege, much of that success was built on a foundation of falsehoods and misrepresentations.
As the legal process unfolds, all eyes will be on the Manhattan federal court, where Wander’s fate—and the true story behind 777 Partners’ meteoric rise and fall—will be determined. For now, the charges stand as a stark warning to investors, lenders, and sports fans alike: even the most glamorous ventures can conceal a web of risk and, sometimes, outright fraud.
