"Aspiration Partners made a splash when it entered the green investing space in 2013. The Marina del Rey firm billed itself as a socially conscious online banking company, offering investments and focusing its finances on the climate crisis. It also generated and sold carbon credits meant to help offset greenhouse gas emissions. Soon, it collected celebrity investors such as Leonardo DiCaprio, Orlando Bloom, Robert Downey Jr., and Steve Ballmer, the former Microsoft chief executive, philanthropist and owner of the Los Angeles Clippers."
"Earlier this year, the co-founder and another top company official agreed to plead guilty to wire fraud charges and scheming to bilk investors using falsified documents. Aspiration went bankrupt. And now, the company is at the center of a NBA investigation into whether a $28-million deal the firm cut with Clippers star Kawhi Leonard was designed to help the team circumvent the league's salary cap."
"A review of hundreds of pages of court records offers a window into how the once high-flying green company fell amid illegal dealings and multiple federal criminal investigations. Founded by Joseph Sanberg and Andrei Cherny, Aspiration Partners reportedly raised $110 million from venture capital funds in just its first few years of existence. It came at a moment of rising concern about climate change, and"
Aspiration Partners entered green investing in 2013 as a Marina del Rey firm positioning itself as a socially conscious online bank that generated and sold carbon credits to offset greenhouse gas emissions. The company attracted celebrity investors including Leonardo DiCaprio, Orlando Bloom, Robert Downey Jr., and Steve Ballmer. Twelve years later, the business collapsed after co-founders and top officials pleaded guilty to wire fraud and scheming, and the firm filed for bankruptcy. The company now faces an NBA investigation over a $28-million deal tied to Kawhi Leonard and potential salary cap circumvention. The Clippers and Leonard have denied wrongdoing.
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