image source, Getty Images
- author, Shamoon Hafez
- role, BBC Sport football news reporter
Everton's future owners 777 Partners and the company's co-owner Josh Wonder have been accused of a “fraud scheme” by their lenders in New York civil court.
London-based Leadenhall Capital Partners LLP and Leadenhall Life Insurance Linked Investment Fund PLC have pledged more than $350 million (£279 million) to Wonder & 777 as collateral for a credit facility agreement. It alleges that he “pledged” the assets of the company, knowing that they “didn't exist” or “didn't exist.” It is not actually owned by the Wonder entity. ”
An 82-page application filed Friday as part of Leadenhall's civil lawsuit says it seeks to recover “millions of dollars in damages from the crumbling House on the Sands.”
777 Partners declined to comment when contacted by BBC Sport.
The latest developments cast further doubt on whether 777 will be able to complete their long-term takeover of the Toffees after agreeing to buy Farhad Moshiri's 94% stake in the club in September last year.
The Miami-based investment firm has been in talks with a private equity firm specializing in “bad loans” with the aim of striking a deal that has not yet been approved by the Premier League.
The company already owns stakes in European teams such as Genoa, Sevilla, Hertha Berlin and Standard Liege, as well as Brazilian club Vasco da Gama.
The 777 endured a financial crisis this week, culminating in a belated payment of £16 million in daily operating costs to Everton and the airline it owns being placed into voluntary administration.
Meanwhile, 777's UK public affairs advisers have stopped representing the company over failure to pay fees, and it remains to be seen whether they will re-engage.
Leadenhall's US court filing said: 'Aside from solvency, Everton is the latest bright target in Wonder's fraud scheme.
“Wandering based on information and beliefs; [co-owner Steven] Pasco is running a giant shell game at best, and an outright Ponzi scheme at worst, raising money from investors and lenders and directing it to various red-losing alter egos within the company. falsifying its financial status. ”
BBC Sport has separately contacted Wonder for comment on Saturday and is awaiting a response.
