Norwegian digital football publication Josimar have published a third article about 777 Partners, the proposed buyers of Everton, this time focusing on a lawsuit filed by a former employee of budget airline Flair.
The suit, filed last week in the Court of Chancery in Delaware, USA, alleges that 777 Partners and its subsidiary Phoenicia LLC “are part of a web of companies 777 uses to move around money and assets to operate and conceal a sprawling fraudulent enterprise.”
» Read the full article at josimar.football
Reader Comments (10)
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2 Posted 04/10/2023 at 18:06:07
But how on earth did they show Moshiri they had the huge level of cash required? I agree with Barry — they'll probably get rejected.
What happens then? MSP waiting in the wings with an offer that suits them and Moshiri will have no option but to accept?
3 Posted 04/10/2023 at 18:16:03
The allegations just keep rolling in. It's the same story everywhere, making deals then not paying up – be it with real estate in NYC, basketball UK, Vasco da Gama.
It does have the appearances of a vast Bernie Madoff-like scheme when, any time a bill comes due, they rope in some other sucker to pay that liability to give the appearance of solvency.
In other words, if it's not a Ponzi scheme, it appears to be check kiting, and they're not even very good at it, all the while trying to convey this image of jet-setting money men. The Colombian drug money allegation just adds another facet to the whole thing.
People will say things like "Usmanov was shady," etc which is true and is also partly (plus our dodgy politicians switching sides) why he is now sanctioned. But is there anyone among us who would happily see 77 partners invest in our own business? manage or own money? acquire the company we work for? manage a pension fund with our investments?
4 Posted 04/10/2023 at 18:21:35
The other thing with the Saudis (despite them trying to act like their fund is independent) is they're a nation state. If they have money problems, which clearly they don't, they could raise taxes, invade and pilfer another country etc.
Similarly, someone like Usmanov has vast wealth. The risk with him was always political risk, that Putin may flip on him as he has done other Oligarchs, or that as finally happened, the British government may do the same. But money was never an issue.
These jokers don't have run or a country, nor are they in bed with a despot who runs a country. They're just like the conman who ran Fyre Festival, living the high life, endearing themselves to the wealthy and playing a shell game to keep the facade going.
Think about this, the Icelandic banks were actually banks, subject to a certain degree of regulation in a democratic country, and look what happened there!
5 Posted 04/10/2023 at 19:00:23
6 Posted 05/10/2023 at 12:08:28
Moshiri is only interested in, hopefully, getting some of his money back and doesn't give a toss about Everton. Well, we do, so sod Moshiri as 777 seem to be a most unsuitable owner that should be rejected out of hand when they are looked at. Whether that happens or not is open to question at the moment.
The problem is (or one of the problems is) that, without a new owne,r you know who is still going to be here. How then I ask is that one going to be solved?
Lyndon, I do apologise for my earlier post on your 1878 Magazine article as I have eventually seen some sense.
7 Posted 05/10/2023 at 18:22:55
8 Posted 05/10/2023 at 18:36:38
I can't argue with that idea at all.
9 Posted 05/10/2023 at 18:54:15
10 Posted 06/10/2023 at 15:33:14
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1 Posted 04/10/2023 at 17:27:01
The fact that Moshiri has seen this group as a possible solution to Everton's problems beggars belief.