NEW YORK (AP) — An American businessman whose firm invested in several European soccer clubs that struggled under its ownership has been indicted in New York on charges of financial wrongdoing in an alleged $500 million fraud scheme.

Josh Wander was a co-founder of Miami-based 777 Partners that owned stakes in an Australian airline plus soccer clubs Hertha Berlin in Germany, Genoa in Italy, Standard Liege in Belgium and Vasco da Gama in Brazil.

The 777 story became a cautionary tale in the global soccer trend of “multi-club ownership” — investors taking stakes in several clubs in different countries. European soccer body UEFA has identified the trend as a threat to the integrity of games and the player trading industry worth more than $10 billion each year.

“As alleged, Wander

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