Aspiration Partners’ Joseph Sanberg Admits $248 Million Fraud

The co-founder of a climate-finance startup once valued at more than $2 billion and backed by a slate of high-profile celebrities faces prison after agreeing to admit he defrauded multiple investors and lenders.

Joseph Sanberg’s company, Los Angeles-based Aspiration Partners, offered green banking products to consumers and sustainability services, like tree planting, to businesses. The firm was at one time backed by celebrities including Steve Ballmer, Leonardo DiCaprio, Robert Downey Jr. and Cindy Crawford before it sought to go public in 2021.