Former Flair Airlines and Bonza owner pleads guilty to fraud

Michael Bronner, the founder of 777 Partners, has admitted to wire and securities fraud in a US court. The US government alleges that Wander, formerly the chief executive of Flair Airlines, misled lenders regarding funds used for deposits on Boeing jets. These deposits were intended for two airlines, including defunct Australian carrier Bonza, which was also backed by 777 Partners. This admission follows an investigation into financial practices surrounding the ordering of Boeing aircraft. Sentencing dates have not yet been scheduled as part of this ongoing legal process.