"At the time that I did these things I knew what I was doing was wrong, and I am deeply sorry for my conduct." Those were the words Josh Wander delivered to U.S. District Judge J. Paul Oetken — one day before his trial was due to start. The co-founder of 777 Partners, the investment group that spent nine months trying to buy Everton, pleaded guilty to wire and securities fraud charges in a deal with Manhattan federal prosecutors.
Each charge carries a maximum sentence of 20 years. As part of the plea, Wander agreed to forfeit at least $500 million in proceeds from his scheme. Sentencing is scheduled for March 1, 2027.
What Wander actually did
The picture prosecutors painted is stark. Wander borrowed hundreds of millions from private lenders and investors in 2021 and 2022 by exaggerating assets, pledging fictitious ones, falsifying bank statements, and lying about his company's financial health. He then used those funds in ways lenders never approved — including bankrolling 777 Partners' sprawling acquisition of football clubs across Europe and South America.
U.S. Attorney Jamie McDonald didn't mince words: "Wander double-pledged assets, pledged fictitious assets, lied about the financial condition of his company, and even falsified bank statements, all to gain access to his victims' funds."
Wander's former CFO, Damien Alfalla, had already pleaded guilty before him.
The football clubs that got caught in the wreckage
Between 2021 and 2024, 777 Partners accumulated controlling stakes in Hertha Berlin, Genoa, Standard Liège, Red Star FC, and Vasco da Gama, along with minority holdings in Sevilla and Melbourne Victory. Those clubs — their players, staff, and supporters — spent months in financial uncertainty while the full scale of 777's fabricated foundation slowly emerged.
For Everton, the collapsed takeover was nine months of false hope. The deal agreed in September 2023 fell apart in June 2024 as lawsuits against 777 piled up. The club eventually found alternative investment and moved on, but the delay cost real time and real stability during a period when the Toffees could afford neither.
Any bettors who were factoring Everton's ownership structure into their long-term outlook on the club's finances had every reason to be nervous — and it turned out those concerns were entirely justified.
"Whether perpetrated in the private or public markets, such brazen conduct undermines the integrity of our financial system and will not be tolerated," McDonald said. The sentence in March 2027 will determine exactly what that intolerance looks like in practice.
