777 Partners founder admits fraud tied to airline investments

Joshua Wander, who co-founded 777 Partners and served as its chief executive, has admitted to wire fraud and securities fraud in the United States. Prosecutors put the losses to the investment firm's lenders and investors at more than $500 million.

He entered the plea on 15 October 2026 before Judge J. Paul Oetken, sitting in the Southern District of New York. The Justice Department said the scheme centred on misleading lenders and investors about how the firm stood financially. As part of the plea, Wander agreed to forfeit at least $500 million. Sentencing is set for 1 March 2027.

Prosecutors alleged that Wander moved restricted money to pay for acquisitions and other costs, put up assets the firm had not bought or had already promised to other lenders, and told staff to change bank statements so that cash shortages would not show. The Miami-based firm began in underwriting and financing structured settlements before branching into aviation.

In aviation, 777 Partners backed Canadian carrier Flair Airlines and Australian low-cost airline Bonza. According to the indictment, Wander bought Flair in 2018, and the firm took a minority stake in Bonza in 2021. In March 2021 the company said it had agreed with Boeing to take 24 737-8 aircraft, with rights to buy 60 more. The indictment states those jets were meant to fly for Flair and Bonza.