Fintech firm Aspiration Partners' co-founder pleads guilty to defrauding investors
FILE PHOTO: The U.S. flag, a judge gavel and a vintage scale are seen in this illustration taken August 6, 2024. REUTERS/Dado Ruvic/Illustration/File Photo
The co-founder of a fintech firm formerly known as Aspiration Partners Inc, and which was backed by actors Robert Downey Jr. and Leonardo DiCaprio, has pleaded guilty to defrauding investors and lenders in a $248 million scheme, the U.S. Justice Department said on Thursday.
Joseph Sanberg, who was also a board member of Aspiration Partners, has agreed to plead guilty to two counts of wire fraud and faces a maximum penalty of 20 years in prison per count, the Justice Department said in a statement.
Source: Reuters
