Failed Everton buyer Josh Wander faces 40 years in prison as he apologises in court
Josh Wander, who tried and failed to buy Everton in 2024, has pleaded guilty to fraud in a New York court.
777 Partners were closing in on a deal to buy the Merseyside club from Farhad Moshiri just over two years ago, before a takeover eventually collapsed after the two parties failed to reach an agreement.
During the majority of 777's bid to buy Everton, the US firm's finances were under huge scrutiny.
Everton eventually dodged a massive bullet when the deal broke down, but Wander's efforts to buy the Premier League club opened a can of worms that has now led to him facing 40 years in prison.
He was charged with fraud last October and standing before Judge J. Paul Oetken in New York on Thursday, he pleased guilty.
And that appearance in court has given the former prospective Everton buyer the chance to speak publicly about his conduct.
What 777 Sports co-founder Josh Wander told the court
ESPN Australia reports that Wander plead guilty to fraud charges and agreed to pay back $500million (around £375m) in losses.
He reportedly admitted to loaning money in 2021 and 2022 by using exaggerated assets.
Speaking to Judge Oetken, he said: "At the time that I did these things I knew what I was doing was wrong, and I am deeply sorry for my conduct."
Wander is currently free on bail but will face sentencing on 1 March, 2027, where he could be sent to prison for up to four decades.
It just goes to show that despite The Friedkin Group's flaws, Everton could have had it a lot worse had Moshiri signed off on a deal for 777 Sports to buy the club.
What did US Attorney Jamie McDonald say about Wander?
On the website of the US Attorney's Office, Wander is said to have "doctored bank account statements" in order to raise funds for 777 Sports, which would have ultimately bought Everton.
US Attorney Jamie McDonald said: "As he has now admitted, Josh Wander used his company, 777 Partners, to steal hundreds of millions of dollars from private creditors and investors. Wander double-pledged assets, pledged fictitious assets, lied about the financial condition of his company, and even falsified bank statements, all to gain access to his victims’ funds.
"He then put those funds to uses that his lenders never permitted, including footing the bill for 777’s collection of professional soccer teams. Whether perpetrated in the private or public markets, such brazen conduct undermines the integrity of our financial system and will not be tolerated.”
On top of trying to buy Everton, who were loaned £200m in order to keep the lights on during 777's protracted efforts to buy the club, Wander also had Standard Liege, Genoa, Vasco da Gama, Melbourne Victory and Red Star Paris among his company's assets.
All but Red Star Paris have now said goodbye to 777 and A-Cap, who helped fund that Everton loan, with the French club still owned by the latter.