Josh Wander of 777 Partners Indicted on $500M Fraud Charges
Josh Wander, who attempted to buy Everton last year, was indicted on Thursday for an alleged $500M fraud scheme.
The indictment alleges that Wander and his firm used deceptive tactics to lure private lenders and investors, including:
- Pledging assets that 777 Partners did not actually own
- Falsifying bank statements
- Making material misrepresentations about the firm's financial health
The charges include wire fraud, securities fraud, and conspiracy to commit those crimes.
The indictment also names Steven Pasko, a colleague of Wander's, who is also the target of a civil filing by the US Securities and Exchange Commission.
A former CFO at 777 has already pleaded guilty and is cooperating with the government, according to the FBI.
Author's summary: Josh Wander indicted for $500M fraud scheme.