Overview
- Federal prosecutors in Manhattan unsealed charges of wire fraud, securities fraud, and related conspiracies, with most counts carrying potential 20‑year sentences.
- Authorities say Wander diverted restricted financing from the firm’s structured‑settlement business, pledged more than $350 million in assets he did not own, and directed staff to falsify bank statements.
- The Securities and Exchange Commission filed a parallel civil case naming Wander, former CFO Damien Alfalla, and cofounder Steven Pasko.
- Alfalla pleaded guilty this week and is cooperating with the government, according to law enforcement statements.
- 777 Partners took stakes in clubs including Hertha Berlin, Genoa, Standard Liège, and Vasco da Gama, and its 2023 bid for a majority of Everton collapsed after it failed to provide audited financials before the club was later sold to Dan Friedkin.