A Southern California philanthropist who co-founded a “green” financial technology company was sentenced to 14 years in prison on June 1 for defrauding multiple lenders and investors of at least $248 million.
Joseph “Joe” Sanberg, 46, of Orange, California, pleaded guilty in October 2025 to two counts of wire fraud connected to his company, formerly known as Aspiration Partners Inc.
“Joseph Sanberg preyed on investors and lenders who believed in his vision of environmentally conscious fintech,” said Assistant Attorney General A. Tysen Duva of the U.S. Justice Department’s Criminal Division.
“Instead of delivering on Aspiration’s promises, he orchestrated a multi-year scheme involving fake clients, sham payments, and deceptive loan collateral that caused at least $248 million in losses to numerous victims,” Duva added….