US businessman Joshua Wander has been indicted in New York over an alleged $500 million fraud. His firm 777 Partners, which invested in Berlin's Hertha BSC football club, is accused of deceiving investors. Wander turned himself in to authorities.
Joshua Wander, founder of investment firm 777 Partners, faces charges in New York. Prosecutors accuse him of defrauding private lenders and investors out of hundreds of millions of dollars. According to US Attorney Jay Clayton, Wander pledged assets not owned by his firm, falsified bank statements, and made false representations about 777 Partners' financial health.
The FBI in New York stated that Wander surrendered to authorities earlier this week and appeared before a judge. 777 Partners had invested in several European football clubs, including second-division side Hertha BSC. In 2023, the firm acquired investor Lars Windhorst's shares, becoming the 78.8% majority shareholder of Hertha BSC GmbH & Co. KGaA. Wander and his partner Steven W. Pasko joined the supervisory board.
Last summer, 777 Partners sold its stakes to US holding company A-CAP, which also included clubs like CFC Genoa, Standard Liège, and Vasco da Gama. Wander's lawyer told the Associated Press that his client looks forward to «setting the record straight.» In a statement, the lawyer added: «This is a business dispute disguised as a criminal case.»
The case highlights risks in football financing and international sports investments.