Joshua Wander, founder and former chief executive of Miami-based investment firm 777 Partners, pleaded guilty to wire fraud and securities fraud in Manhattan federal court on 15 October. Prosecutors said he defrauded lenders and investors of more than $500 million through misleading financial disclosures, overstated collateral and falsified bank statements. The firm had invested in aviation, including a stake in Australian airline Bonza, before its financial collapse.
Wander entered the plea before US District Judge J. Paul Oetken, resolving the criminal case ahead of a scheduled trial. He agreed to forfeit at least $500 million in proceeds from the scheme and is due to be sentenced on 1 March 2027. Each count carries a maximum statutory sentence of 20 years.
The alleged conduct covered borrowing and fundraising in 2021 and 2022. Prosecutors said Wander pledged assets that 777 Partners had not acquired or had already allocated to other lenders, while directing employees to alter bank statements to show cash the firm did not hold. The firm’s wider portfolio included interests in football clubs such as Hertha Berlin, Genoa, Standard Liège and Vasco da Gama, alongside its aviation investments.