Aspiration Co-Founder Joseph Sanberg Pleads Guilty to Two Counts of Wire Fraud
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LOS ANGELES — Aspiration co-founder Joseph Sanberg admitted Monday to two counts of wire fraud in U.S. District Court for the Central District of California, acknowledging his role in a scheme that took $248 million from investors.
Each count carries a potential 20-year prison sentence. U.S. District Judge — whose name was not disclosed during the hearing — scheduled sentencing for Feb. 23, 2026, at 11 a.m. PST in downtown Los Angeles.
Sanberg, 46, entered his plea on the 10th floor of the courthouse as part of a deal previously arranged with federal prosecutors. Defense attorney Marc Mukasey told the court that his client’s actions stemmed from a desire to see the environmentally focused banking start-up succeed. “He loved Aspiration and wanted it to do well,” Mukasey said. “We agree that he stepped over the line.”
The plea comes as Aspiration’s connections to the NBA’s LA Clippers remain under league investigation. In September 2021, the bankrupt firm announced a 23-year, $300 million sponsorship with the franchise that included signage at the team’s forthcoming arena in Inglewood and a jersey patch. Four months later, Aspiration struck a separate $28 million endorsement with Clippers forward Kawhi Leonard.
The NBA is examining whether the team and owner Steve Ballmer bypassed salary-cap rules by channeling additional compensation to Leonard through the Aspiration deal. That same month in 2021, Ballmer invested $50 million in the company, according to journalist Pablo Torre.
After Monday’s brief proceeding, Sanberg declined to answer questions outside the courthouse. Mukasey also refused to address whether Sanberg collaborated with Ballmer or intends to assist the NBA probe led by law firm Wachtell Lipton, Rosen & Katz. “We’re not going to comment on any of that right now,” Mukasey said. “We’re just happy that we got through today’s proceeding and that Joe accepted responsibility for what he’s charged with. Other matters may play out in the future. We’ll see.”
The court did not immediately indicate whether additional defendants or charges are expected in the investor fraud case.
Source: ESPN
