US businessman tied to global football empire indicted in $500m fraud case

New York prosecutors have indicted Josh Wander, co-founder of Miami-based 777 Partners, on charges of wire fraud, securities fraud, and conspiracy related to an alleged $500 million scheme. According to the indictment, Wander used his investment firm to defraud private lenders and investors out of hundreds of millions of dollars by making false claims about the firm's ownership and financial condition.

Wander's firm had invested in several European soccer clubs, including Hertha Berlin, Genoa, Standard Liege, and Vasco da Gama. However, these investments were marred by controversy, with many questioning the legitimacy of the deals. The indictment alleges that Wander used this scheme to cheat investors out of money.

The US Attorney's office for the Southern District of New York stated that Wander used assets he did not own to pledge to lenders and investors, falsified bank statements, and made other material misrepresentations about 777's financial condition. This is a particularly concerning trend in the multi-club ownership model adopted by several European soccer clubs, which has been criticized for threatening the integrity of games and player trading.

Jay Clayton, US Attorney for the Southern District of New York, said that Wander used his position as a board member at the influential European Club Association to shape policy and further his own interests. The former chief financial officer at 777, Damien Alfalla, is cooperating with authorities, having made a guilty plea this week.

Wander's colleague Steven Pasko also faces allegations in a civil law court filing by the Securities and Exchange Commission. The case highlights the ongoing regulatory scrutiny of investment firms involved in soccer ownership.

I'm not surprised to see another high-profile figure getting caught up in a financial scheme. It sounds like Wander used his charm and influence to convince people to invest in 777 Partners, only to use that money for his own gain. The fact that he claimed to be the owner of these European soccer clubs is just laughable - I mean, who does that?

I'm also a bit skeptical about the whole "multi-club ownership model" thing. Sounds like a fancy way of saying "complex web of deceit". How can anyone trust that these investments are legitimate when there's so much room for misrepresentation?

And what's with Jay Clayton's statement about Wander using his position on the European Club Association to shape policy? That just reeks of power corruption. Can we really trust our regulatory bodies to stay objective when they're dealing with high-profile cases like this?

so another rich dude thinks he can just scam his way to success... like, what's next? no seriously though, $500 million is a LOT of money. I wonder how many people lost out on that kind of cash and didn't even get to see their return on investment. the part that really gets me is that he used his position at the European Club Association to shape policy... like, what's the point of having rules if you're just gonna break them? also, what's up with these soccer clubs investing in each other? Is it just a big game of musical chairs or something?

just when you think the UK is the only one getting burned with football money scandals, looks like someone's got another shell game goin on. Can't believe these big boys, using fake books and whatnot to take hundreds of millions from people who trusted 'em. Makes you wonder how many other shenanigans went down while all this was cookin' in the background. 777 Partners had some serious skeletons in their closet, no question. The fact that Jay Clayton's on it, though - now we know for sure someone's gonna get held accountable

omg what a shock he gets indicted for wire fraud... I mean, who wouldn't want to take millions from private lenders and investors, right? it's not like that's a recipe for disaster or anything. i'm just glad someone is finally holding him accountable... about time too, considering all the "legitimate" investments his firm had made (cough genoa cough). can you imagine how many people lost money because of wander's "business acumen"? and now he gets to enjoy the pleasure of a board member at a huge soccer association? just great.

Ugh, another high-profile scumbag getting caught with his hands in the cookie jar . Can't believe they thought they could pull off a scheme that big without someone sniffing around. I mean, using fake assets to make false claims? Come on, Josh, you're not even a good liar .

And what's up with this "multi-club ownership model"? It sounds like some shady business deal gone wrong . I'm all for competition and investment in sports, but when it involves cheating investors out of millions, that's just not cool .

The fact that Wander used his position on the European Club Association to further his own interests is just despicable . It's like he thought he was above the law because of his soccer connections. Newsflash, Josh: you're not a king .

Anyway, I'm glad Damien Alfalla is cooperating with authorities - at least someone's taking responsibility for their actions . And poor Steven Pasko, getting dragged into this mess too... well, guess that's what happens when you're part of a shady operation .

Oh well, back to the real world now . Guess we'll just have to wait and see how this all plays out .

Ugh, can you believe the state of the world, man? Like, I'm all for making that dough, but come on, Josh Wander was just straight-up scamming people out of like, half a billion bucks! And to think he was doing it in the name of "investing" in soccer clubs... yeah, good luck getting any love from me when your firm's entire business model is built on lies .

I mean, I know some of these European soccer clubs are super rich and all, but that doesn't make it okay to fudge the books like that. And now we're seeing more cases popping up because of the multi-club ownership model, which is just a mess . It's like, who's watching out for the players and the fans when the suits are lining their pockets?

But hey, at least Damien Alfalla is taking responsibility for his actions by cooperating with authorities... that's some good karma right there . And I guess this case will just make people more aware of how shady investment firms can be in soccer ownership . Still, it's not like we didn't see this coming or anything...

omg, can u even believe dis?? some peeps r actually gettin away w/ this kinda thing?! Josh Wander's 777 Partners scheme is straight outta a bad movie, using fake claims to scam ppl outta millions... like, what's next? and it gets even worse, he used his position at the European Club Association to shape policy and further his own interests... that's some serious corruption right there! the fact that Damien Alfalla is cooperating with authorities is a good start, but we need more action from the SEC & US Attorney's office.

OMG I'm like so shocked ! Josh Wander thought he was above the law, but now he's got some serious explaining to do . I mean, who tries to scam people out of hundreds of millions of dollars? The fact that he used fake assets and fudged bank statements is just crazy . This whole thing is a major red flag for all these European soccer clubs that are trying to invest in other teams . Can't we trust them anymore? I'm loving how the authorities are cracking down on this kind of behavior . It's always good to see people held accountable for their actions .

I'm so worried about these guys getting away with it . They were just talking out of their backside, making claims they couldn't even back up! It's insane that someone could scam people out of half a billion dollars like that . And to think he was playing on the idea of investing in soccer clubs, something that's supposed to be all about passion and fair play... it's just not right.

I don't get how they thought this would fly under the radar for so long. Did they really think no one would question their fake financials? It's a shame that investors got burned in the process. I mean, what are you supposed to do when someone's making false claims about their company? You can't just sit back and watch your money disappear!

I'm glad at least one of his colleagues is cooperating with the authorities . Maybe it'll be a way for them to get some leniency in their sentences or something. But still, five hundred million dollars... that's just crazy talk

This is so messed up . I mean, $500 million scheme? That's insane! How could someone do that to all those people? It's not just the money, it's the fact that he used fake claims about his firm's ownership and financial condition to get away with it. And now, his colleagues are involved too... it's like a whole web of deceit. I'm glad Damien Alfalla is cooperating, at least that's one person who's taking responsibility for their actions. The soccer thing is also pretty weird, I mean, shouldn't investment firms be transparent about where they're getting money from? It just goes to show how the multi-club ownership model can be used for bad things if you let it happen.

This whole thing stinks . I mean, it's one thing to get caught up in a scheme when you're not even making any real money, but Josh Wander was raking it in and using those funds to line his own pockets. He got away with this for years because no one was paying attention to the financials behind 777 Partners.

And let's be real, investing in European soccer clubs is already a sketchy move. But Wander took it to a whole new level by making fake claims about who owned the club and how much money he had. I mean, who needs that kind of stress? It's not like he was curing cancer or saving lives with his questionable business practices.

It's also pretty wild that Jay Clayton is pointing fingers at Wander for using his position on the European Club Association to further his own interests. That's just rich coming from someone in a position of power. Maybe we should be focusing on how the system allowed this to happen instead of just bashing one guy.

omg did u no that josh wander is accused of scamming ppl outta like 500 mil lol i mean what even is that kinda money?! i feel bad for all the investors who got screwed over by him and his crew but at the same time i'm not surprised cuz these soccer team investments always seem shady to me why do ppl invest in clubs that dont really exist or have fake financials?! also what's up with this whole multi-club ownership model it sounds like a recipe for disaster...

omg can't believe what's going on with 777 partners Josh wander is like totally toast rn. i'm so sick about all these people who lost money because of his fake claims it's crazy that he used his position to cheat investors and shape policy for the european club association - that's some serious power abuse what's even crazier is that this is just one more example of how corrupt the soccer ownership model can be in europe, but like, we all knew that already . anyway, i hope wander gets the justice he deserves, but also super sorry for all those people who got screwed over

just heard about this, like, can't believe Josh Wander thought he could get away with this... $500 million scheme? That's wild! I mean, using fake assets to pledge to lenders and investors? it's not even clever, just lazy. And to think he used his position as a board member at the European Club Association to further his own interests? that's some shady stuff right there.

But you know what really gets me is how this mirrors the problems with multi-club ownership in European soccer... it's all about lining your pockets and screwing over the fans and players. Like, can't we focus on building healthy clubs for the love of the game instead of just making bank?

Ugh I'm so done with these rich folks thinking they can just use their money to buy influence and cheat people out of it . Like, come on Josh Wander , you invested in a bunch of European soccer clubs that everyone knew were sketchy from the start . And now you're using your position as a board member at the European Club Association to shape policy for personal gain? That's just disgusting .

And what really gets my goat is that this is just another example of how the multi-club ownership model is a recipe for disaster . I mean, who needs rules and regulations when you've got guys like Wander making stuff up and cheating their way to the top? The SEC should be cracking down on these firms ASAP . It's not just about the money, it's about maintaining the integrity of the game .

Ugh just read about Josh Wander getting indicted for wire fraud and securities fraud I mean, what's next? Are these guys gonna start serving time on their shady deals with European soccer clubs? The fact that he used fake claims to scam private lenders and investors out of millions is just insane And now his colleague Steven Pasko is facing allegations too... it's like a real-life soap opera, but with more money laundering I'm glad Damien Alfalla is cooperating though, hopefully he can provide some insight into what really went down

OMG just saw that Josh Wander from 777 Partners got indicted for wire fraud and securities fraud like what even is wrong with this guy? I mean I know investing can be risky but making false claims about your firm's ownership and finances? That's just not right

And can we talk about the fact that he used his position on the European Club Association to shape policy and further his own interests? That's some serious conflict of interest going on. I'm all for people making money but not at the expense of others' hard-earned cash .

Anyway, this is definitely a wake-up call for investment firms involved in soccer ownership. Like we need more scandals . But seriously, it's good to see authorities taking action and holding people accountable . Let's just hope these cases don't taint the whole sport .

Oh, and can we get some updates on Damien Alfalla? His guilty plea is a major win for justice .