Weekly roundup. Every item links to its primary source. Allegations are attributed. General information only, not financial advice.

1. 777 Partners founder pleads guilty

On 15 October 2026, Joshua Wander, founder and former CEO of 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. Prosecutors allege he defrauded lenders and investors of more than $500 million. Sentencing is set for 1 March 2027 [1].

Red flag: a bank statement supplied by the company is the company’s document. Auditors confirm cash directly with the bank.

Read the full news file →

2. $288 million ordered in the EminiFX case

A federal court in the Southern District of New York has ordered Eddy Alexandre and EminiFX to pay more than $288 million in the CFTC’s civil case, according to the CFTC. The CFTC says investors put in more than $262 million in about eight months, attracted by reported weekly returns of 5% to 9.99%. The court’s order, as quoted by the CFTC: “Simply put, EminiFX was a Ponzi scheme” [2].

Red flag: real returns are lumpy. A smooth 5–10% a week is not a track record.

Read the full news file →

3. New case file: FTX, the exchange with no books

Our FTX long-form episode is out. A jury found Sam Bankman-Fried guilty on all seven counts in November 2023, and he was sentenced to 25 years in March 2024 [3]. On 12 June 2026 the Second Circuit affirmed the conviction, sentence and forfeiture [5].

Read the FTX case file → · Watch on YouTube

4. Fraud 101: Repo 105

Lehman’s bankruptcy examiner found it temporarily moved as much as $50.38 billion off its balance sheet at quarter-end by booking short-term repos as sales [4].

Read the explainer →

Case to watch next week

Wirecard. Our next case file looks at the €1.9 billion of trust-account cash that, in June 2020, Wirecard’s own management board said there was a “prevailing likelihood” did not exist.

Which case should we open next? Reply on the channel or in the newsletter.

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Further reading

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Sources

  1. DOJ USAO-SDNY, 15 Oct 2026: https://www.justice.gov/usao-sdny/pr/founder-and-former-ceo-777-partners-pleads-guilty-500-million-fraud-scheme
  2. CFTC Press Release 9311-26, 19 Oct 2026: https://www.cftc.gov/PressRoom/PressReleases/9311-26
  3. US DOJ, Bankman-Fried sentenced (28 Mar 2024): https://www.justice.gov/archives/opa/pr/samuel-bankman-fried-sentenced-25-years-his-orchestration-multiple-fraudulent-schemes
  4. Valukas Examiner’s Report, Vol. 3 (11 Mar 2010): https://jenner.com/lehman/
  5. United States v. Bankman-Fried, No. 24-961-cr (2d Cir. 12 Jun 2026): https://ww3.ca2.uscourts.gov/decisions/OPN/24-961_opn.pdf