Everton's prospective owners 777 Partners and the firm's co-owner Josh Wander have been accused of a "fraudulent scheme" by a lender in a civil court filing in New York.
London-based Leadenhall Capital Partners LLP and Leadenhall Life Insurance Linked Investments Fund PLC claim Wander and 777 'pledged' over $350m (£279m) in assets as collateral for a credit facility agreement, but knew they "did not exist" or were "not actually owned by Wander’s entities".
Leadenhall's 82-page filing, which was submitted on Friday as part of its civil claim, says it is seeking to recover "millions of dollars in damages from a house of cards on the brink of collapse".