World & Nation | Aspiration co-founder sentenced to 14 years for fraud by Lily Wright

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Aspiration co‑founder Joseph Sanberg was sentenced to 14 years in prison after pleading guilty to a $248 million wire‑fraud scheme that duped investors and lenders by forging bank statements, fabricating audit‑committee letters and inflating the company’s 2021 revenue with fake customers; the eco‑friendly digital banking startup he launched with Andrei Cherny—who left in 2022 and faces no charges—collapsed, filing for bankruptcy and liquidating its assets, while the case also drew attention to related NBA investigations involving former Clippers owner Steve Ballmer’s investments in the firm.

Read more: https://www.latimes.com/business/story/2026-06-02/aspiration-co-founder-sentenced-to-14-years-for-fraud

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