Steve Ballmer blasts founder he backed who pleaded guilty to fraud: ‘I was duped and feel silly’

Joseph Sanberg, founder of Aspiration Partners, pleaded guilty to wire fraud after prosecutors said he falsified revenue, cash, and customer records to mislead investors and lenders.

Steve Ballmer said he was deceived by Sanberg, lost his $60 million investment, and had partnered with Aspiration through the Los Angeles Clippers.

The NBA is investigating related allegations, adding broader scrutiny for the company and its sports-business ties.

The case highlights how fabricated financial reporting can trigger criminal penalties and significant losses for major investors.