United States of America v. Joshua Wander

New York City, New York, criminal defense lawyers represented the Defendant charged with wire fraud and securities fraud.

Joshua Wander, the founder and former CEO of 777 Partners, a Miami-based investment firm, schemed to defraud the lenders and investors of 777 Partners. As part of his plea, Wamder agreed to forfeit at least $500,000,000 in proceeds from his illegal scheme.

Wander, the co-founder and former CEO of 777 Partners, a private investment firm, orchestrated a multi-year scheme to defraud 777 Partners’ lenders and investors of more than $500,000,000. 777 Partners’ initial and primary business model was to underwrite and finance structured settlements. Over time, WANDER began investing capital in new sectors, including airlines and professional sports teams. 777 Partners lacked the funds to pay for these new acquisitions, and Wander directed that restricted funds from 777 Partners’ lenders in its structured settlement business be used to cover the firm’s acquisitions and expenses. To steal these funds from lenders,
Wander pledged to his lenders hundreds of millions of dollars of structured settlement assets that 777 Partners had never purchased or had previously pledged to other lenders. To conceal the fraud, Wander directed employees to digitally alter bank account statements to reflects millions of dollars in cash on hand that the firm did not have.

In 2021 and 2022, Wander raised more than $200 million in outside investments in 777 Partners through the sale of preferred equity interests in 777 Partners and an affiliated entity. Wander misrepresented the financial condition of the firm in soliciting these investments. In addition, in March 2022, Wander solicited a $20 million loan from a lender. Wander provided the lender with dozens of doctored bank account statements to conceal that Wander had misappropriated the funds, spending millions of dollars of options trades.

By March 2023, Wander’s scheme began to unravel. One of the firm’s lenders confronted Wander about allegations of double-pledged assets, and WANDER falsely claimed there had been an error caused by 777 Partners’ antiquated computer system. A few days later, Wander again falsely assured the lender, among other things, that the double-pledging had been inadvertent. In 2024, Wander resigned as CEO.

The Defendant elected to plead guilt.