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

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Silicon Valley tends to tolerate a certain amount of founder exaggeration when pitching investors, often dismissing it as part of selling a vision. But some choices cross the line and can lead to jail time for founders and scandal for their investors.

A case in point is Joseph Sanberg, whose once high-flying fintech startup Aspiration Partners was backed by a roster of tech celebrities, including former Microsoft CEO and current Clippers owner Steve Ballmer. In August 2025, Sanberg pleaded guilty to two counts of wire fraud and defrauding multiple investors and lenders, the U.S. Department of Justice said in a press release. Each count carries a maximum sentence of 20 years in prison.

Ahead of sentencing, which is scheduled for Monday, victims were invited to describe their experience with Sanberg to the judge. Ballmer did so, and publicly. Ballmer’s lawyers said in the letter that he has lost money, been vilified, and that the NBA is investigating allegations stemming from the association.

Sanberg co-founded green fintech startup Aspiration Partners, which offered what it called sustainable banking services like credit cards and investment products that avoided fossil fuels. The startup promised to “automatically plant trees with every card purchase.” In 2021, it announced plans to go public via a SPAC merger at a value of $2.3 billion, though that transaction never took place.

The DOJ alleged that Aspiration booked and recognized revenue from entities held by Sanberg, who made the company appear as if it had a steady stream of customers and revenue that it didn’t actually have. The agency further alleged he defrauded investors by showing them a fabricated letter from Aspiration’s audit committee that said the company had $250 million in available cash and equivalents when it had less than $1 million. The DOJ alleged that Sanberg, along with a board member who also pleaded guilty, falsified financial records to obtain $145 million in loans.

When Ballmer shared his letter on X, asking the judge to consider the harm done to him in sentencing, he wrote, “I was duped and feel silly about that. Everyone who believed in Aspiration, including employees, customers and investors, was also duped. Everyone is still tallying the losses.”

The letter says that Ballmer invested a total of $60 million in the company, and lost all of it. Ballmer was not only an investor, but had contracted with Aspiration to provide carbon-offsetting programs for the Clippers and its stadium. Aspiration also became a major Clippers sponsor.

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The billionaire said in the letter that not only did he lose that money, his reputation was negatively affected. He used the letter to deny the reporting of a multi-part series from famed sports podcast Pablo Torre Finds Out that delved into the relationship between the Clippers and Aspiration. The podcast made allegations that Aspiration helped sidestep the salary cap for a star Clippers player. Ballmer’s lawyers called those allegations “misapprehension or intentional disregard of the facts,” in the letter.

Ballmer’s letter also said that as a result of the association with this company, the podcast and other public attention of it, he’s been named in lawsuits. Meanwhile, the NBA said in its own letter regarding Sanberg’s sentencing that it’s investigating the salary cap allegations and Sanberg has been providing evidence, ESPN reported.

While the basketball world is embroiled in all of these downstream developments, the message founders can take from it is clear: If one fabricates financial documents to raise capital, the outcome will very likely be prison.

The Ballmer Group did not respond to our request for comment.

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Party Deregistration: ADC youth wing petitions NJC, demands Lifu’s removal

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The National Youth Wing of the opposition African Democratic Congress, ADC) has written a formal petition against Justice Peter Odo Lifu, demanding his removal “from any and all adjudicatory matters, reviews, or decision-making roles concerning the ADC.”

The petition, dated June 18, 2026, was addressed to the Executive Secretary, National Judicial Council (NJC), and signed by the ADC’s national youth leader, Comrade Balarabe Rufai. 

While reading the content of the petition to media in front of the ADC National Secretariat, Comrade Rufai, who was represented by Comrade Ibrahim Garba Wala, alleged that there were attempts to prevent them from submitting the petition at the NJC. 

According to him, all roads leading to the NJC, on Thursday were barricaded by heavily armed security agents; hence, the need to present the petition to the public. 

The petition reads, “We demand the immediate, total removal of Hon. Justice Peter Odo Lifu from any and all adjudicatory matters, reviews, or decision-making roles concerning the ADC. Furthermore, given his pattern of flagrant judicial rascality, we explicitly demand that the National Judicial Council recommend his absolute dismissal from the Nigerian judiciary to preserve the fading credibility of the bench.

“Our democratic architecture is under a coordinated assault by compromised custodians of the law. Under suit number FHC/ABJ/CS/2637/2026, Hon. Justice Peter Odo Lifu delivered a highly controversial ruling ordering the Independent National Electoral Commission (INEC) to deregister the ADC and four other political parties. This judgment is not an honest legal error; it is a calculated, politically motivated act designed to shrink the democratic space in Nigeria and artificially consolidate a two-party monopoly.”

While lamenting what he described as “legal distortions and judicial rascality tying Justice Lifu to this systemic compromise,” the ADC Youth leader said, “Justice Lifu brazenly proceeded with this judgment despite a binding Court of Appeal order that explicitly stayed proceedings on this matter, a move that subverts the sacred doctrine of stare decisis and constitutes gross misconduct.”

“The bench looked away as the plaintiffs, the Incorporated Trustees of the National Forum of Former Legislators, clandestinely altered their legal personality midway through the process without a valid court order.

“While the NJC has previously dismissed certain claims due to standard procedural hurdles, the persistence of these identical accusations across multiple petitions—including those by the Chairman of the Boot Party—proves a systemic erosion of public trust.

“We cannot watch the political rights of millions of young Nigerians be auctioned off by compromised benches. The continuous involvement of Justice Lifu in ADC affairs completely destroys public trust and makes a mockery of fair hearings. As the protectors of our nation’s future, we declare that when the bench compromises its integrity, the youth will become the courtroom of public conscience. The ballot box belongs to us, and we will not allow any court to rob us of our political expression.”

“Until the Council acts to protect institutional integrity, enforces discipline, completely recuses this individual from our affairs, and begins the process for his immediate sack from the bench. Respectfully submitted on behalf of the Nigerian youth during a live protest.”

This comes as Lifu, in a judgment, ordered the Independent National Electoral Commission to deregister five opposition parties, including ADC. 

However, following widespread condemnation, the appeal court ordered a stay of execution of the judgment. 

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IPCR, SFCG urge action to save democracy from conflict drivers

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The Institute for Peace and Conflict Resolution (IPCR) and Search for Common Ground (SFCG) have called for efforts to address conflict drivers threatening democracy.

The organisations made the call on Thursday in Abuja at a joint news conference to commemorate the 2026 Democracy Day.

The Director-General of IPCR, Dr Joseph Ochogwu, said democracy remained the best form of government and depended on active citizen participation.

According to him, weak civic engagement, voter apathy and poor democratic culture continue to challenge democratic consolidation in Nigeria.

Mr Ochogwu said IPCR’s conflict assessments showed that many pressures on democracy stemmed from citizen disengagement rather than democracy itself.

He urged Nigerians, especially youths, to participate actively in elections and governance processes to strengthen democratic institutions.

The IPCR boss described electoral violence, intimidation and coercive political practices as serious threats to democratic development.

He called on political actors, electoral institutions, security agencies, media organisations and civil society groups to promote peaceful political engagement.

Mr Ochogwu also expressed concern over the increasing monetisation of politics, saying it excluded ordinary citizens from meaningful participation.

He identified terrorism, banditry, organised crime and violent extremism as major threats undermining governance and public confidence in institutions.

Responding to questions, Mr Ochogwu said insecurity would not prevent the conduct of elections in 2027.

He urged Nigerians not to lose hope in the country and to continue supporting democratic processes.

The Director of Programmes, Search for Common Ground,  Gift Omoniwa, said protecting democracy required addressing insecurity and conflict drivers.

Mrs Omoniwa said banditry, kidnapping and violent extremism continued to threaten peace, stability and democratic governance across Nigeria.

She stressed the need for inclusive approaches that address root causes of conflict and promote peaceful coexistence.

According to her, vulnerable youths remain targets for recruitment by violent groups, posing risks to national security and democracy.

She advocated greater youth empowerment, economic opportunities and meaningful participation in governance processes.

Mrs Omoniwa disclosed that SFCG and IPCR recently conducted conflict assessments in Benue, Nasarawa, Plateau and Taraba states.

She said the findings were being shared with stakeholders to support evidence-based interventions and conflict prevention efforts.

The interventions include strengthening early warning systems, peace committees and livelihood programmes in affected communities.

Mrs Omoniwa expressed confidence that the measures would support peaceful and credible elections in 2027.

She reaffirmed SFCG’s commitment to working with government institutions, civil society groups and communities to promote peace and democratic governance. 

(NAN)

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