Everton FC buyer accused of fraud and double-pledging assets

Lenders to 777 Partners claim the US investment firm borrowed against €325m of assets that it didn’t own, didn’t exist, or were already promised to someone else

Everton's Youssef Chermiti (left) and Luton Town's Gabriel Osho battle for the ball during their Premier League match at Kenilworth Rd, London, on Friday. Picture: Bradley Collyer/PA 

Lenders to 777 Partners have accused it of fraud, claiming that the US investment firm borrowed against $350m (€325m) of assets that it didn’t own, didn’t exist, or were already promised to someone else.

The Miami-based fund’s finances have been thrust into the spotlight after it moved to take over English football club Everton FC last year.