Everton’s prospective owners, 777 Partners, and co-owner Josh Wander are facing allegations of a “fraudulent scheme” in a civil court filing in New York. London-based Leadenhall Capital Partners LLP and Leadenhall Life Insurance Linked Investments Fund PLC claim that Wander and 777 pledged over $350 million in assets as collateral for a credit facility agreement, assets that allegedly “did not exist” or were not owned by Wander’s entities.
The 82-page filing submitted by Leadenhall seeks to recover “millions of dollars in damages from a house of cards on the brink of collapse.” This development raises doubts about 777’s ability to complete the takeover of Everton, for which they agreed to buy a 94% stake from Farhad Moshiri last September.
777 Partners, a Miami-based investment firm, has been struggling financially, with delayed payments to Everton and one of its owned airlines entering voluntary administration. The firm also faced issues with its UK public relations advisers, who stopped representing them due to payment issues.
Leadenhall’s US court filing accuses Wander and co-owner Steven Pasko of operating a fraudulent scheme, describing it as a “giant shell game” or potentially an “outright Ponzi scheme.” BBC Sport reached out to Wander for comment but is still awaiting a response.
This latest development adds to the uncertainty surrounding the future of Everton and raises questions about the financial stability of 777 Partners.