A US state regulator claims A-CAP’s football clubs are still exposed to 777 Partners and received loans that were wrongly reported.
By Paul Brown and Philippe Auclair
Fans of the football clubs in the 777 Partners portfolio could have been forgiven for thinking their troubles were over when the Miami investment firm collapsed and new custodians were found to guide them into the future.
Instead, Standard de Liège, Red Star Paris, Genoa CFC, Sevilla, Vasco da Gama and Hertha Berlin are embroiled in a new crisis driven by the firm which took over those ownership stakes.
In June 2025, Josimar reported how A-CAP, a lender to 777 Partners, foreclosed on a loan to the company and then seized all of the shares in these clubs as the preferred bidder at auction.*
A-CAP operates five life insurance companies in the USA, where one state regulator now claims continued exposure to 777 Partners has endangered policyholders. A-CAP denies this. Kenny King, A-CAP’s owner and operator, has been accused in civil litigation of being the "puppeteer" behind the “fraudulent scheme” run by 777 Partners. He denies this.
Two of A-CAP’s five insurers - Atlantic Coast Life and its subsidiary, Southern Atlantic Re - are based in South Carolina, where the state’s insurance regulator has petitioned a judge for emergency intervention, stating that the two firms are in a
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