The co-founders of a California financial tech and sustainability services company defrauded investors and lenders of $248 million, according to the Department of Justice (DOJ).
From 2020 to 2025, co-founders and board members of Aspiration Partners Inc., Joseph Neal Sanberg and Ibrahim AlHusseini, obtained $145 million in fraudulent loans in exchange for shares in Aspiration stock, the DOJ said in a press release Thursday. The loans were partially based on “tens of millions” of inflated assets reported to the lenders by AlHusseini.
