‘Green’ Bank Co-Founder Gets 14 Years for Defrauding Lenders, Investors in $250 Million Scam

Joe Sanberg invested in the Blue Apron delivery service and helped establish the California Earned Income Tax Credit before the fraud scheme.

Joe Sanberg speaks at a press conference in Los Angeles on April 14, 2020. Presley Ann/Getty Images for Emergency Supply Donor Group

A Southern California philanthropist who co-founded a “green” financial technology company was sentenced to 14 years in prison on June 1 for defrauding multiple lenders and investors of at least $248 million.

Joseph “Joe” Sanberg, 46, of Orange, California, pleaded guilty in October 2025 to two counts of wire fraud connected to his company, formerly known as Aspiration Partners Inc.