RealGM

azcatz11 wrote:Is what was done illegal?

A California man who co-founded and served as board member of a company formerly known as Aspiration Partners, Inc. — a financial technology and sustainability services company — was charged today by criminal information and agreed to plead guilty to defrauding multiple investors and lenders.

“For years, Joseph Sanberg used his position at Aspiration to deceive investors and lenders for his own benefit, causing his victims over $248 million in losses,” said Acting Assistant Attorney General Matthew R. Galeotti of the Justice Department's Criminal Division. “The Criminal Division is committed to pursuing, charging, and convicting fraudsters like Sanberg, who cause significant harm to their victims and undermine our financial institutions.”

Dr Aki wrote:

azcatz11 wrote:Is what was done illegal?

https://www.justice.gov/opa/pr/aspiration-partners-co-founder-charged-and-agrees-plead-guilty-248m-scheme-defraud-investors

Probably has something to do with this

A California man who co-founded and served as board member of a company formerly known as Aspiration Partners, Inc. — a financial technology and sustainability services company — was charged today by criminal information and agreed to plead guilty to defrauding multiple investors and lenders.

“For years, Joseph Sanberg used his position at Aspiration to deceive investors and lenders for his own benefit, causing his victims over $248 million in losses,” said Acting Assistant Attorney General Matthew R. Galeotti of the Justice Department's Criminal Division. “The Criminal Division is committed to pursuing, charging, and convicting fraudsters like Sanberg, who cause significant harm to their victims and undermine our financial institutions.”

Not saying Ballmer personally had a hand in it, but the thing seems to be a slush fund

California Gold wrote:Prison?

Larry Ellison wrote:

Dr Aki wrote:

azcatz11 wrote:Is what was done illegal?

https://www.justice.gov/opa/pr/aspiration-partners-co-founder-charged-and-agrees-plead-guilty-248m-scheme-defraud-investors

Probably has something to do with this

A California man who co-founded and served as board member of a company formerly known as Aspiration Partners, Inc. — a financial technology and sustainability services company — was charged today by criminal information and agreed to plead guilty to defrauding multiple investors and lenders.

“For years, Joseph Sanberg used his position at Aspiration to deceive investors and lenders for his own benefit, causing his victims over $248 million in losses,” said Acting Assistant Attorney General Matthew R. Galeotti of the Justice Department's Criminal Division. “The Criminal Division is committed to pursuing, charging, and convicting fraudsters like Sanberg, who cause significant harm to their victims and undermine our financial institutions.”

Not saying Ballmer personally had a hand in it, but the thing seems to be a slush fund

Ballmer was an investor in a fraudulent company. That makes him a victim.

Salary cap violations are not a crime. Aspiration paying Kawhi $28M to do nothing not a crime by Kawhi. It is a poor use of money and perhaps criminal fraud by a company whose founder was a Board member owing a fiduciary duty to its investors.

I voted nothing happens to Ballmer or Kawhi. Mark Cuban explained it on Twitter. Ballmer is not this dumb.

California Gold wrote:Prison?

Slade3 wrote:

California Gold wrote:Prison?

You obviously don't realize how serious the courts take fraud. I work at a financial institution and I've seen it happen from bottom dwellers all the way up to the senior management and owners. Entire banks have folded due to fraud and seniors have seen jail time.

Slade3 wrote:

California Gold wrote:Prison?

You obviously don't realize how serious the courts take fraud. I work at a financial institution and I've seen it happen from bottom dwellers all the way up to the senior management and owners. Entire banks have folded due to fraud and seniors have seen jail time.

GiannisAnte34 wrote:

Slade3 wrote:

California Gold wrote:Prison?

You obviously don't realize how serious the courts take fraud. I work at a financial institution and I've seen it happen from bottom dwellers all the way up to the senior management and owners. Entire banks have folded due to fraud and seniors have seen jail time.

you could argue that a lot of financial fraud goes completely unchecked even though authorities are likely aware of it. crypto pump and dumps, naked shorting, spreading misinformation, manipulating markets, etc