News file. Facts are from the US Attorney’s Office for the Southern District of New York. Allegations are attributed to prosecutors. General information only, not financial advice.
On 15 October 2026, Joshua Wander, founder and former CEO of Miami-based 777 Partners, pleaded guilty to wire fraud and securities fraud and agreed to forfeit at least $500 million, according to the US Attorney’s Office for the Southern District of New York [1].
What prosecutors allege. Prosecutors allege Wander defrauded lenders and investors of more than $500 million [1]. In the words of US Attorney Jamie McDonald:
“Wander double-pledged assets, pledged fictitious assets, lied about the financial condition of his company, and even falsified bank statements” [1]
Prosecutors say the money went to businesses including airlines and soccer teams [1].
The auditor’s eye. A bank statement handed over by the company is the company’s document. Auditors confirm cash directly with the bank, in a confirmation that travels bank-to-auditor, precisely because statements can be edited. And an asset pledged twice is the same collateral counted twice: lien searches and lender confirmations are how you find out.
What’s next. Each count carries a maximum of 20 years in prison. Sentencing is set for 1 March 2027 and is pending [1].
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Further reading
General fraud reading (no book on this case yet).
- The Smartest Guys in the Room: The Amazing Rise and Scandalous Fall of Enron by Bethany McLean & Peter Elkind
- Money Men: A Hot Startup, A Billion Dollar Fraud, A Fight for the Truth by Dan McCrum
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Sources
- DOJ USAO-SDNY, “Founder And Former CEO Of 777 Partners Pleads Guilty To $500 Million Fraud Scheme”, 15 Oct 2026: https://www.justice.gov/usao-sdny/pr/founder-and-former-ceo-777-partners-pleads-guilty-500-million-fraud-scheme