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Everton’s prospective owners 777 Partners and the firm’s co-owner Josh Wander have been accused of a “fraudulent scheme” by a lender in a civil court filing in New York.<\/b><\/p>\n
London-based Leadenhall Capital Partners LLP and Leadenhall Life Insurance Linked Investments Fund PLC claim Wander and 777 ‘pledged’ over $350m (\u00a3279m) in assets as collateral for a credit facility agreement, but knew they “did not exist” or were “not actually owned by Wander\u2019s entities”.<\/p>\n
Leadenhall’s 82-page filing, which was submitted on Friday as part of its civil claim, says it is seeking to recover “millions of dollars in damages from a house of cards on the brink of collapse”.<\/p>\n
777 Partners declined to comment when contacted by BBC Sport.<\/p>\n
The latest development casts further doubt over whether 777 can complete a protracted takeover of the Toffees after agreeing to buy Farhad Moshiri’s 94% stake in the club last September.<\/p>\n
The Miami-based investment firm has held discussions with a private equity firm specialising in ‘distressed debt’ as it aims to seal a deal that it is yet to be ratified by the Premier League.<\/p>\n
The firm already owns stakes in European teams including Genoa, Sevilla, Hertha Berlin and Standard Liege, as well as Brazilian club Vasco da Gama.<\/p>\n
777 has endured financial strife this week, eventually sending a delayed payment of \u00a316m to Everton for day-to-day operational costs, and having an airline it owns enter voluntary administration.<\/a><\/p>\n Meanwhile, 777’s UK public relations advisers have stopped representing the company after saying the firm did not meet payments on fees and it remains to be seen whether they will re-engage.<\/p>\n Leadenhall’s US court filing stated: “Everton is the latest shiny object of Wander\u2019s fraudulent scheme, solvency aside.<\/p>\n “Upon information and belief, Wander and [co-owner Steven] Pasko are operating a giant shell game at best, and an outright Ponzi scheme at worst, that takes money in from investors and lenders and shuffles it around to various money-losing alter egos in the enterprise to disguise their true financial condition.”<\/p>\n BBC Sport contacted Wander separately on Saturday for comment is awaiting a response.<\/p>\n<\/div>\n