New concerns for Standard owners? While the Rouches travel to Louvain this Sunday, information from the Bloomberg media does not reassure the supporters of the Liège club. Indeed, according to our colleagues, Leadenhall, a company based in London, has filed a complaint for major fraud against the owner of the Standard, 777 Partners.
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The investment company 777 Partners, based in Miami and owner of the Standard in particular, is said to have borrowed $350 million in assets that it did not own or which did not exist.
“To encourage Leadenhall to finance their operation, Wander called on 777 Partners. He pledged more than $350 million in assets to Leadenhall as collateral. But this collateral does not exist and does not actually belong to the Wander entities or had already been given as collateral to another lender,” the complaint explains.
Josh Wander, the co-founder of the company, therefore allegedly doubled its assets by guaranteeing loans to the company and admitted fundamental violations of the agreements.
In addition to Standard, 777 Partners has bought several football clubs around the world. Hertha Berlin, Genoa, Red Star and Vasco da Gama to name but a few.
