Joseph Sanberg, a prominent Democratic donor and liberal activist, has agreed to plead guilty to two counts of wire fraud, facing up to 20 years in prison for each count, the Department of Justice announced late last week.
Sanberg co-founded Aspiration Partners, Inc., a financial technology and sustainability services company, where he also served on the board of directors. Officials stated that he used his position to mislead investors and lenders for personal gain, causing losses exceeding $248 million.
Acting Assistant Attorney General Matthew R. Galeotti emphasized the DOJ’s commitment to pursuing individuals who defraud investors and undermine financial institutions.
Federal election records show Sanberg has donated to various left-leaning organizations and Democratic candidates, including California Governor Gavin Newsom.
Meanwhile, other high-profile Democrats are facing legal scrutiny. Los Angeles City Councilmember Curren Price is confronting additional criminal corruption charges, escalating an ongoing investigation into his alleged misuse of public funds.
