Lao Bao sacrificed 50 million yuan? The fraud company defrauded 248 million yuan, and the victims included Li Zi + Donnie, etc.

Balmer and Joseph Sanberg

September 6th Clippers star Xiao Ka was suspected of an yin-yang contract and signed a four-year, $28 million false endorsement contract with Aspiration, and an equity surcharge agreement worth $20 million. Ballmer claimed to have been cheated of investing in the company at a premium of $50 million.

Aspiration founder Joseph Sanberg, arrested in March this year and now pleads guilty to two felony charges of telecom fraud, each with a maximum sentence of 20 years in prison.

Joseph Sanberg admitted to trying to enrich his personal pockets by defrauding lenders and investors hundreds of millions of dollars. The victims include actors Orlando Bloom, Leonardo DiCaprio, Robert Downey Jr. and other famous investors.

Joseph Sanberg forged a letter from the Aspiration Audit Committee claiming that the company has $250 million in available cash and equivalents. In fact, Aspiration has less than $1 million in cash. He used the forged letter and false income statements to obtain a loan of $145 million by mortgageing his own Aspiration shares.

According to the U.S. Attorney's Office, the victims of the fraud ended up suffering more than $248 million in losses.