LOS ANGELES — Joseph Neal Sanberg, 46, of Orange County, was sentenced to 14 years in federal prison for a wire fraud scheme that defrauded investors and lenders and caused more than $248 million in losses, federal prosecutors announced.
Sanberg, co-founder and former board member of Aspiration Partners, a financial technology and sustainability company, pleaded guilty in October 2025 to two counts of wire fraud. U.S. District Judge Stephen V. Wilson imposed the 168-month sentence and scheduled a restitution hearing for July 20.
According to court records, Sanberg orchestrated a years-long fraud scheme that involved falsified financial documents, sham customer payments, and misleading representations about the company’s financial condition.
Victims suffered at least $248 million in losses.
Quick Facts
- Defendant: Joseph Neal Sanberg, 46
- Residence: Orange County, California
- Company: Aspiration Partners Inc.
- Charges: Two counts of wire fraud
- Losses: More than $248 million
- Sentence: 168 months (14 years) in federal prison
- Restitution hearing: July 20
Prosecutors said Sanberg and former board member Ibrahim AlHusseini fraudulently secured $145 million in loans by inflating asset values through falsified bank and brokerage records. Beginning in 2021, Sanberg also concealed that he personally funded purported customer payments used to inflate Aspiration’s revenue.
Authorities said Sanberg continued soliciting investments while using fabricated financial materials, including a letter falsely claiming the company held $250 million in cash when it reportedly had less than $1 million available.