WFB: A Democratic megadonor and cofounder of a “socially conscious” climate finance firm, Joseph Sanberg, was arrested Monday on federal charges of conspiring to defraud investment funds of at least $145 million.
The Department of Justice accused Sanberg—the cofounder and largest shareholder of Aspiration Partners Inc., a “climate-friendly banking alternative that’s good for your wallet and the planet”—of orchestrating a scheme with Ibrahim Ameen AlHusseini to mislead investors through falsified financial documents.
The pair hired a graphic designer from Lebanon to create fake brokerage accounts and bank statements that falsely inflated AlHusseini’s financial assets, according to the U.S. Attorney’s Office for the Central District of California. Sanberg leveraged AlHusseini’s fabricated financial standing to secure $145 million in loans, prosecutors said.
AlHusseini pleaded guilty to wire fraud on Monday and admitted to pocketing $12.3 million from the scam. He and Sanberg each face up to 20 years in prison.
Since 2009, Sanberg has contributed more than $370,000 to Democratic campaigns and allied progressive committees, financial disclosures reviewed by the Washington Free Beacon show. In 2020 alone, he shelled out over $50,000 to the Biden Victory Fund and another $10,000 for the progressive Justice Democrats PAC. MORE
Almost sounds like a Demoncrat member of Congress.
They were con men, so they naturally went looking for a large group of gullible marks with money. Dangling ‘social consciousness’ and ‘climate-friendly’ and ‘good for the planet’ as the bait seems pretty good to me.
I vaguely wonder how they screwed up and got caught. Articles don’t say.
“Socially Conscious Climate Finance”???
Holy shit! That’s a GIANT red flag right there!!
Proof that you can “justify” anything just by putting a nice sounding label on it!
Uncle Al – or… Diddled by the Dangling Dong of ‘social consciousness’!
Harry: Congressional Republicans saw the red flags, but thought it was a carnival…
Hang’Em!