BREAKING: Joseph Sanberg, co-founder of Aspiration, has officially pled guilty to two counts of wire fraud in a federal court in Los Angeles. This urgent development comes as part of a larger investigation linked to an NBA scandal involving the LA Clippers. Each count could result in a maximum sentence of 20 years in prison, with sentencing set for February 23, 2026, at 11 a.m. PST.
In a courtroom packed with reporters, Sanberg admitted to defrauding investors out of a staggering $248 million. His attorney, Marc Mukasey, emphasized that Sanberg’s actions stemmed from a strong desire to see Aspiration succeed, stating, “Mr. Sanberg was working to bring about a prosperous company…We agree that he stepped over the line.”
The hearing, held on the 10th floor of the United States District Court for the Central District of California, marked a pivotal moment in a case that has drawn significant attention. Aspiration, a green banking company that declared bankruptcy earlier this year, had previously entered into a controversial $300 million, 23-year sponsorship deal with the Clippers in September 2021. This deal included prominent signage at the Clippers’ new arena in Inglewood, California, and a jersey patch deal.
Further complicating matters, Aspiration signed a $28 million sponsorship deal with Clippers star Kawhi Leonard just four months after the initial agreement. The NBA is currently investigating whether the Clippers and their owner, Steve Ballmer, circumvented league rules by manipulating salary cap regulations to benefit Leonard.
Reports indicate that Ballmer invested $50 million in Aspiration during the same month the sponsorship was announced, raising questions about possible collusion. Following the hearing, Sanberg declined to comment about any potential conspiracy with Ballmer regarding the NBA’s salary cap rules. His attorney, Mukasey, refrained from discussing the ongoing investigation led by the law firm Wachtell Lipton, Rosen & Katz, stating, “We’re just happy that we got through today’s proceeding.”
As the NBA probe continues, the ramifications of Sanberg’s guilty plea could extend beyond his personal legal challenges. The outcome may significantly impact the relationship between Aspiration and the Clippers, along with the future of NBA sponsorships.
Stay tuned for updates on this developing story as more information becomes available regarding the NBA’s investigation and the implications of Sanberg’s plea.
