The former boss of the investment firm behind failed Australian airline Bonza has pleaded guilty to a massive fraud scheme involving hundreds of millions of dollars.
Joshua Wander, co-founder and former chief executive of US investment firm 777 Partners, pleaded guilty to wire fraud and securities fraud in a New York court on Thursday.
777 Partners financed regional carrier Bonza, which collapsed in 2024. Getty
The 45-year-old has agreed to cough up at least US$500 million – about $720 million – in proceeds linked to the scheme, according to the US Department of Justice (DOJ).
777 Partners financed regional carrier Bonza, which collapsed in 2024 after its aircraft were repossessed and hundreds of Australian workers lost their jobs.
US prosecutors said Wander spent years defrauding lenders and investors at 777 Partners, using money intended for other…
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