Aspiration Co-Founder Joseph Sanberg Pleads Guilty to Fraud

BREAKING: Joseph Sanberg, co-founder of Aspiration, pled guilty to two counts of wire fraud in federal court today in Los Angeles. These charges stem from a scheme that defrauded investors out of a staggering $248 million. Each count could carry a maximum sentence of 20 years in prison.

The hearing took place at the United States District Court for the Central District of California, where Sanberg’s attorney, Marc Mukasey, stated that his client’s actions were driven by a desire for Aspiration’s success. “Mr. Sanberg was working to bring about a prosperous and successful company…We agree that he stepped over the line,” Mukasey explained.

Sentencing for Sanberg is scheduled for February 23, 2026, at 11 a.m. PST. This case is particularly significant as it ties into an ongoing NBA investigation involving the LA Clippers and their ownership. The Clippers entered into a controversial $300 million sponsorship deal with Aspiration in September 2021, which included a jersey patch agreement. Four months later, Aspiration also inked a $28 million deal with Clippers star Kawhi Leonard.

Authorities are currently investigating whether Clippers owner Steve Ballmer violated league salary cap rules. Reports indicate that shortly after the sponsorship deal with Aspiration was announced, Ballmer invested $50 million in the company. This raises serious questions about potential circumvention of NBA regulations.

Outside the courtroom, Sanberg declined to comment directly on the case, deferring inquiries to Mukasey, who refused to clarify whether Sanberg would cooperate with the NBA’s investigation led by the law firm Wachtell Lipton, Rosen & Katz. “We’re just happy that we got through today’s proceeding and that Joe accepted responsibility for what he’s charged with,” Mukasey stated.

This case marks a significant chapter in the intersection of sports and financial ethics, with potential ramifications for multiple parties involved. As the investigation unfolds, all eyes will be on the NBA’s next steps and whether further actions will be taken against those implicated.

Stay tuned for more updates as this story develops.