Josh Wander, the co-founder of Miami-based investment firm 777 Partners, has been thrust into the spotlight after federal prosecutors in Manhattan unsealed an indictment on October 16, 2025, charging him with wire fraud, securities fraud, and conspiracy. The allegations, which have sent shockwaves through both the financial and global soccer communities, center on an alleged scheme to defraud lenders and investors out of nearly $500 million.
According to the Associated Press, Wander, 44, is accused of using 777 Partners to orchestrate a sprawling fraud by pledging assets he did not own, falsifying bank statements, and making other significant misrepresentations about the firm’s financial condition. These tactics, prosecutors allege, were designed to inflate the company’s finances and secure hundreds of millions in financing under false pretenses. The charges carry a maximum prison term of 20 years each, underscoring the gravity of the case.
Wander surrendered to federal agents on the morning the indictment was unsealed, signaling the seriousness of the investigation. His attorney, Jordan Estes, pushed back against the allegations, stating in a written statement to The Associated Press, "This is a business dispute dressed up as a criminal case. We look forward to setting the record straight." Still, the legal jeopardy is mounting, with the Securities and Exchange Commission (SEC) filing a civil lawsuit the same day against Wander, his co-founder Steven Pasko, former chief financial officer Damien Alfalla, 777 Partners, and another firm founded by Wander.
The unraveling of 777 Partners is a cautionary tale in the increasingly popular trend of multi-club soccer ownership, where investors buy stakes in teams across different countries. As reported by The New York Times, Wander’s ambitions in the soccer world were bold—he once boasted to The Financial Times that he was "the most significant investor the multibillion-dollar soccer industry had ever seen." At its peak, 777 Partners claimed to control $10 billion in assets and owned stakes in soccer clubs across Europe, South America, and Australia, including Hertha Berlin (Germany), Genoa (Italy), Standard Liege (Belgium), Vasco da Gama (Brazil), and even a minority share in Sevilla (Spain), now the subject of a separate lawsuit.
But beneath the surface, the indictment paints a picture of a company built on shaky ground. Prosecutors allege that Wander and his firm pledged more than $350 million in assets as collateral to private lenders, knowing that 777 Partners either didn’t own the collateral or had already pledged it elsewhere. The funds raised were then used for purposes far afield from what was promised—buying stakes in soccer teams and covering expenses for a loss-making airline among them.
"When financial firms lie to their lenders, they do not merely breach contracts. They undermine the integrity and stability of our credit markets and our financial system more broadly," said Jay Clayton, the U.S. attorney for the Southern District of New York, in a statement quoted by The New York Times.
Wander’s legal troubles come after a year of mounting scrutiny. In May 2024, 777 Partners’ attempt to acquire Everton Football Club, one of England’s most storied teams, collapsed amid allegations of fraud and a lawsuit from London-based Leadenhall Capital Partners, which accused the firm of making false declarations to secure $600 million in financing. Since then, the company’s British entity was declared bankrupt by Britain’s top court, and its main U.S. business was placed into limited receivership. The firm’s biggest lender, A-Cap, has since taken control of its sports assets.
The fallout has been felt across the soccer world. Teams owned or controlled by 777 Partners—including Hertha Berlin, Genoa, Standard Liege, Vasco da Gama, and others—have faced payroll struggles and uncertainty about their futures. In Brazil, authorities suspended 777’s ownership of Vasco da Gama in 2024, while in Italy, Genoa F.C., a club with more than 130 years of history, was sold to a Romanian businessman following ownership turmoil. Some clubs have changed hands; for others, the road ahead remains unclear.
The indictment also details how 777 Partners’ business model shifted over time. Founded in 2015, the company initially focused on structured settlements—an opaque industry where recipients of long-term annuities sell their payouts for lump sums. The move into European soccer began with the investment in Sevilla and quickly expanded, with Wander and Pasko making a name for themselves at major soccer events and even securing a board seat at the influential European Club Association, a group that shapes competitions like the Champions League.
But the multi-club ownership model, while popular among a cohort of American businessmen, has attracted growing criticism. UEFA, the governing body of European soccer, has warned that such arrangements pose a threat to the integrity of the game and the $10 billion-a-year player trading industry. Fan groups have argued that the structure has inflicted lasting damage on several teams—leaving them vulnerable to financial instability when things go wrong. In 2025 alone, another American investor was charged with fraud in Belgium, and a separate U.S. owner relinquished control of a major French team.
The government’s case against Wander has been strengthened by the cooperation of former CFO Damien Alfalla, who pleaded guilty on October 14, 2025, and is now working with prosecutors. According to the FBI, Alfalla’s testimony could prove critical in unraveling the full extent of the alleged fraud. Meanwhile, Steven Pasko, the firm’s other co-founder, is also named in the SEC’s civil lawsuit, although it remains unclear who is representing him in court.
Wander’s rapid rise and fall have left a trail of lawsuits, unpaid bills, and corporate failures. The indictment alleges that many of his firm’s claims about its financial health were simply untrue. The impact has been felt not just by investors and creditors, but also by the players, staff, and fans of the teams caught in the crossfire.
As the legal process moves forward, all eyes will be on the federal courthouse in Manhattan. Wander’s defense maintains that the case is a business dispute, not a criminal matter, but prosecutors insist that the alleged deception goes far beyond contractual disagreements. The outcome could have major implications for the future of multi-club ownership in soccer and for how regulators police the increasingly globalized world of sports finance.
The story of Josh Wander and 777 Partners serves as a stark reminder of how ambition, when unchecked by transparency and accountability, can leave a lasting mark on both the financial world and the communities whose teams are swept up in the chase for glory.