What Happened
Private Investment Firm's Aviation Expansion Marred by Financial Misconduct
Joshua Wander, co-founder and former CEO of 777 Partners, has pleaded guilty to wire fraud and securities fraud in a case involving over $500 million in losses. The private investment firm had expanded into aviation, backing airlines including Flair Airlines and Bonza, and announcing plans to acquire dozens of Boeing 737 MAX 8 aircraft. Wander’s guilty plea and agreement to forfeit at least $500 million may have significant implications for the aviation industry, particularly for airlines that relied on 777 Partners for financial backing. The case was first reported by AeroTime.