Aspiration Co-Founder Arrested, Board Member Pleads Guilty in $145M Fraud Scheme
Aspiration's co-founder and a board member face fraud charges for allegedly defrauding investors of $145M with falsified documents.
Matilda
Aspiration Co-Founder Arrested, Board Member Pleads Guilty in $145M Fraud Scheme
Just over four years ago, climate-friendly fintech startup Aspiration was on the verge of a $2 billion public listing. Now, one of the startup’s board members has pleaded guilty to wire fraud and one of the co-founders has been arrested for allegedly conspiring to defraud investors, according to a federal criminal complaint filed by the U.S. Attorney’s Office of the Central District of California. Image Credits:Larry French / Getty Images The fintech startup has been under federal scrutiny for years for questionable financial and carbon accounting practices. But the new complaint shines a light on a series of loans that were obtained using allegedly fraudulent tactics. Aspiration co-founder Joseph Sanberg was arrested Monday for allegedly conspiring to defraud two different funds of $145 million. Also on the same day, Ibrahim AlHusseini, a former independent board member for the company, pleaded guilty to wire fraud for falsifying documents to help Sanberg secure the loans, acc…
