Joshua Wander, co-founder of Miami-based investment firm 777 Partners, has pleaded guilty to wire fraud and securities fraud in the United States, admitting to a scheme that defrauded lenders and investors of hundreds of millions of dollars.
Wander entered the plea in the New York Southern District Court in Manhattan on October 15, 2026, [docket number 1:25-cr-00473], and agreed to pay USD500 million in restitution, the Associated Press (AP) reports. He admitted to borrowing money in 2021 and 2022 using financial figures that exaggerated the firm's assets.
He faces a potential prison sentence of up to 40 years, with sentencing scheduled for March 1, 2027. He will remain free on bail pending sentencing.
"At the time that I did these things, I knew what I was doing was wrong, and I am deeply sorry for my conduct," he said.
A year ago, on October 16, 2025, Wander surrendered to the Federal Bureau of Investigation (FBI) and was charged with conspiracy to commit wire fraud, wire fraud, conspiracy to commit securities fraud, and securities fraud. The charges in the indictment arose from a scheme by Wander and others to defraud 777 Partners' private lenders and investors out of more than USD500 million.
Prosecutors alleged that Wander and others at 777 Partners had pledged assets the firm did not own, double-pledged collateral to multiple lenders, falsified bank statements, and misrepresented the firm's financial position to secure financing and attract investors. The scheme dated back to 2018.
Airline investments
777 Partners invested in airlines, professional sports teams, and other businesses. Its aviation interests included Australian start-up Bonza (Sunshine Coast), which ceased operations in April 2024 after 14 months, and a former 25% stake in Canada's Flair Airlines (F8, Kelowna).
The firm initially financed Bonza and supplied it with B737-8 MAX aircraft. Following the airline's collapse, aircraft seizures linked to 777 Partners' airline investments, and regulatory scrutiny over foreign ownership restrictions in Canada, the investment firm reduced its stake in Flair.
777 Partners also held interests in European football clubs, including Hertha Berlin in Germany, Genoa in Italy, and Standard Liege in Belgium. Its attempt to acquire English club Everton failed in 2024 amid growing questions about its financial position.
The firm's former CFO Damien Alfalla has also pleaded guilty and is cooperating with investigators.
777 Partners was placed in limited receivership in August 2025. In July 2026, an involuntary Chapter 7 bankruptcy petition was filed against 777 in Florida, but the case was closed and transferred to Texas in September 2026, where the firm had filed for Chapter 11 bankruptcy protection in August 2026. That case (docket number 9:26-bk-90190) in the Texas Northern Bankruptcy Court is ongoing.
