Aspiration Co-Founder Sanberg Sentenced to 14 Years for Fraud Impacting NBA Investigation
Joseph Sanberg, co-founder of the now-bankrupt green banking company Aspiration, has been sentenced to 14 years in federal prison. Sanberg pleaded guilty to two counts of wire fraud, having defrauded investors and lenders of $248 million through fraudulent loans and falsified financial statements. The sentencing took place in Los Angeles, where Judge Stephen V. Wilson described Sanberg's actions as among the worst fraud cases he had encountered. Despite Sanberg's claims of acting without malice and his attorney's plea for leniency, the court found that Sanberg personally benefited from the fraud. Aspiration, which had high-profile backers and partnerships, including a significant endorsement deal with the LA Clippers, is also under NBA investigation for potentially circumventing salary cap rules. 
