The fraud of the climate kooks

 Blaze:

A climate change finance company that was backed by big name celebrities has filed for bankruptcy. The bankruptcy follows the arrest of the company's co-founder for allegedly attempting to defraud investors of $145 million.

Aspiration Inc., now known as CTN Holdings Inc., is a company that originally started as a sustainability focused financial services firm.

Aspiration is a self-described "climate-friendly banking alternative that's good for your wallet and the planet."

"When it comes to climate change, your money is power," the Aspiration website reads. "You can feel good knowing that your deposits will not fund fossil fuel exploration or production. By moving money to Aspiration, you’re giving the climate a fighting chance."

Aspiration was reportedly backed by notable celebrities, including Leonardo DiCaprio, Drake, Robert Downey Jr., Orlando Bloom, Cindy Crawford, and billionaire Steve Ballmer.

The climate change banking company – which reached a peak valuation of $2.3 billion in 2021 – shifted to selling carbon credits to other businesses in 2023, which Forbes described as a "strange pivot."

Aspiration then brokered carbon credit deals with major corporations such as Microsoft, Meta Platforms, and Ballmer's Los Angeles Clippers.
...

On March 3, 2025, the U.S. Attorney's Office of California's Central District announced that Sanberg had been arrested on a federal criminal complaint accusing him of conspiring to defraud two investor funds of at least $145 million.

Sanberg’s alleged co-conspirator, Ibrahim Ameen AlHusseini, pleaded guilty to wire fraud for falsifying documents and information to assist Sanberg.

Ibrahim Ameen AlHusseini – also a prolific donor to Democrat causes who served on Aspiration's board of directors — allegedly participated in the scheme to defraud investors.

"According to the complaint against Sanberg and AlHusseini’s plea agreement, Sanberg obtained $145 million in loans secured by AlHusseini, who Sanberg knew did not have sufficient financial assets to cover those loans if Sanberg defaulted," the statement read. "Sanberg hid this fact from investors, then defaulted on the loans, which resulted in at least a $145 million in losses."
...

I have always been skeptical of the climate change narrative.  Now we are finding more evidence that others should have also been skeptical.  In this case, someone decided to take advantage of the climate change true believers.   The cost proved to be unfriendly to the investors' wallets.

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