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loan fraud allegations Flash News List | Blockchain.News
Flash News List

List of Flash News about loan fraud allegations

Time Details
2025-09-12
13:40
Mark Cuban Alleges Aspiration Founder Joe Sanberg Used Fake Collateral To Secure $145M Bank Loans: What Traders Should Note

According to @mcuban, Joe Sanberg, a co-founder of Aspiration, obtained a total of $145 million in bank loans in 2020 and 2021 using Aspiration shares as collateral, then allegedly paid $12.3 million to an associate to falsify brokerage and cash statements showing $86 million in stocks and $25 million in cash to further guarantee the loans (source: Mark Cuban on X, Sep 12, 2025, https://x.com/mcuban/status/1966497204446646433). @mcuban further claims the associate was later placed on Aspiration’s Board, that the CEO—described as having a background prosecuting financial crimes—departed in 2022, and that Sanberg defaulted on the fraudulently obtained loan (source: Mark Cuban on X, Sep 12, 2025, https://x.com/mcuban/status/1966497204446646433). He also links to a Forbes report by Stephen Pastis for additional background on Aspiration titled "The story of climate-friendly digital bank Aspiration just got stranger" (source: Forbes link shared by @mcuban, https://www.forbes.com/sites/stephenpastis/2025/03/14/the-story-of-climate-friendly-digital-bank-aspiration-just-got-stranger/). The cited post does not mention any cryptocurrencies or crypto firms, indicating no direct crypto-asset exposure is referenced in these sources (source: Mark Cuban on X, Sep 12, 2025, https://x.com/mcuban/status/1966497204446646433; Forbes link above).

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