Learn languages naturally with fresh, real content!

tap to translate recording

Explore By Region

flag Joseph Sanberg, Aspiration co-founder, pleaded guilty to wire fraud in a $248M scheme using fake financials to secure loans and investments.

flag Joseph Sanberg, co-founder of the now-bankrupt digital bank Aspiration, pleaded guilty in Los Angeles federal court to two counts of wire fraud in connection with a $248 million fraud scheme. flag He admitted to falsifying financial documents, including a letter claiming the company had $250 million in cash when it had less than $1 million, to secure $145 million in loans and attract investors. flag Sanberg misled lenders and celebrity backers like Robert Downey Jr., Leonardo DiCaprio, and Steve Ballmer, who invested $50 million. flag The scheme also involved a $28 million endorsement deal with NBA player Kawhi Leonard, allegedly used to bypass salary cap rules, prompting an NBA investigation. flag Sanberg, who faces up to 40 years in prison, is scheduled to be sentenced on February 23, 2026.

6 Articles