Fintech exec arrested for allegedly defrauding investors out of $145M

Joseph Neal Sanberg, founder of the climate-focused banking startup Aspiration, was arrested for allegedly defrauding investors of $145 million.

His co-conspirator, Ibrahim Ameen AlHusseini, pleaded guilty to wire fraud and admitted to falsifying financial statements to support the scheme.

Sanberg, a Democratic donor with celebrity investors like Leonardo DiCaprio and Drake, allegedly misled investors using Aspiration shares as collateral.

Federal authorities are also investigating the company’s business dealings, including its carbon credit claims, the New York Post has reported.

If convicted, Sanberg faces up to 20 years in prison.

read more: https://nypost.com/2025/03/05/business/dem-backing-fintech-exec-arrested-for-defrauding-investors-out-of-145m/

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