Joseph Sanberg, co-founder of Aspiration Partners Inc., was arrested on fraud charges for allegedly defrauding investors of $145 million. Prosecutors have accused him of bilking numerous investors, employees, and business partners out of substantial sums. Sanberg, known for his advocacy as an anti-poverty activist and for his involvement in raising the minimum wage in California, faces serious legal repercussions following these allegations. The case has garnered attention due to Sanberg's previous prominence in the fintech sector, where Aspiration was positioned as a socially responsible neobank during the industry's boom.