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Joseph Sanberg, Aspiration co-founder, pleaded guilty to wire fraud in a $248M scheme using fake financials to secure loans and investments.
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.
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.
Sanberg misled lenders and celebrity backers like Robert Downey Jr., Leonardo DiCaprio, and Steve Ballmer, who invested $50 million.
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.
Sanberg, who faces up to 40 years in prison, is scheduled to be sentenced on February 23, 2026.
Joseph Sanberg, cofundador de Aspiration, se declaró culpable de fraude electrónico en un esquema de $248 millones usando financieras falsas para asegurar préstamos e inversiones.