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OC Man to be Sentenced for Role in $248M Fraud Scheme

Summary by MyNewsLA.com
The co-founder of the now-bankrupt “environmentally conscious” digital bank Aspiration who gave Los Angeles Clippers star Kawhi Leonard a $28 million endorsement as a way to allegedly circumvent the league’s salary cap faces sentencing Monday for conspiring to fleece investors out of $248 million. Joe Sanberg, 46, of Orange, pleaded guilty in October 2025 in downtown Los Angeles to two federal counts of wire fraud. Clippers owner Steve Ballmer p…

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OC Man to be Sentenced for Role in $248M Fraud Scheme

The co-founder of the now-bankrupt “environmentally conscious” digital bank Aspiration who gave Los Angeles Clippers star Kawhi Leonard a $28 million endorsement as a way to allegedly circumvent the league’s salary cap faces sentencing Monday for conspiring to fleece investors out of $248 million. Joe Sanberg, 46, of Orange, pleaded guilty in October 2025 in downtown Los Angeles to two federal counts of wire fraud. Clippers owner Steve Ballmer p…

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MyNewsLA.com broke the news on Monday, April 27, 2026.
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