LOS ANGELES — The co-founder of the now-bankrupt “environmentally conscious” digital bank Aspiration that allegedly gave Los Angeles Clippers star Kawhi Leonard a $28 million endorsement as a way to circumvent the league’s salary cap pleaded guilty Monday to conspiring to fleece investors out of $248 million.
Joe Sanberg, 46, of Orange, entered his plea in Los Angeles federal court to two counts of wire fraud, felonies that together carry a sentence of up to 40 years behind bars.
Sentencing was scheduled for Feb. 23.
The Marina del Rey firm sold itself as a socially conscious online banking company, offering investments and focusing on the climate crisis. It also generated and sold carbon credits meant to help offset greenhouse gas emissions.
According to court filings, Aspiration’s