New investigation against 777 partners for money laundering

11/18/2024

Updated at 5:16 p.m.

The coveted 777 partners share package It is not for sale yet. The legal troubles of this business group have caused their assets are blocked. In fact, these Sevilla FC shares are now owned by A-CAP, an insurer that took over them as the main creditor of the investment fund. However, both 777 partners and A-CAP are immersed in a judicial process in the United States, so they cannot sell anything. It is worth remembering that ‘the Americans’ were the main allies of José María del Nido Benavente and they have capital between 12-14% of the Sevilla club.

According to the Norwegian media Josimar, workers from both institutions have received criminal summonses to carry out a money laundering investigation. A few months ago, the collapse of 777 partners was revealed due to a lawsuit from Leadenhall Capital, which alleged fraud of 600 million euros. A-CAP kept the football investments as one of its largest creditors, but Leadenhall also accuses the insurer of being complicit. The American justice system is now studying whether the policyholders’ money has been invested correctlyand hence the criminal drift of the matter.

Thus, A-CAP commissioned the investment bank Moelis to carry out the process of selling the shares of its football clubs – less than 5% of its assets under management – since it was seriously affected by the fall of 777 Partners and fight for your own survival. Moelis had already started talks in this regard, but no firm offer has been received at the moment. However, right now the sale of the shares cannot be carried out without the approval of the courts and the clubs are waiting for a precautionary measure that allows it. In this way, the key to Sevilla’s governability is at the mercy of justice.