Chief executive Wander had lied to lenders to pay deposits on Boeing jets for two airlines, the US government alleged.
The founder of 777 Partners, an investment firm that ordered Boeing jets and held ownership stakes in Flair Airlines and defunct Australian carrier Bonza, has pleaded guilty in US court to wire and securities fraud.
Joshua Wander, who was also the Miami company’s chief executive, is scheduled to be sentenced in March 2027 for his role in a scheme that defrauded investors, the US Department of Justice (DOJ) said on 15 October.
That scheme enveloped numerous lenders and businesses. It involved Wander misleading lenders to secure funds used to pay Boeing $10 million in deposits on orders for 24 737 Max aircraft, the DOJ alleged in its October 2025 indictment in federal court for the Southern District of New York.
Between 2021 and 2023, 777 Partners had ordered 68 737 Max aircraft, records show. The company used the jets to expand the fleets of Bonza and Flair. It was Bonza’s parent and a Flair part-owner.
Boeing delivered 38 737 Max to 777 Partners between 2021 and 2023, according to the manufacturer’s publicly available data. The company did not respond to a request for comment about Wander’s plea.
“Wander used… 777 Partners to steal hundreds of millions of dollars from private creditors and investors,” says US district attorney Jamie McDonald. “Wander double-pledged assets, pledged fictitious assets, lied about the financial condition of his company and even falsified bank statements.”
The DOJ says the scheme cost victims $500 million, which Wander has agreed to repay as part of his plea.
777 Partners’ initial business was buying structured settlements – arrangements under which lawsuit winners receive compensation payments over time. It diversified into other businesses, including airlines, but around 2021 faced “significant cash shortfalls”.
In late 2024, Bonza, having received only “sporadic funding” from 777 Partners, ceased operating. Lessors repossessed its entire fleet.
Flair, which continues operating, tells FlightGlobal that it and “777 Partners have had no business relationship whatsoever for over a year”.
The post Former Flair Airlines and Bonza owner pleads guilty to fraud first appeared on FlightGlobal.
