The co -founder of the coating of guilt in a $ 248 million fraud system

Fintech’s ambition, which focuses on sustainability, was flying high a few years ago, and attracted famous investors including Orlando Bloom, Leonardo DiCaprio and Robert Downey Junior now, that his co -founder will admit to help in perpetuating a script of $ 248 million, According to Lawyers.

Joseph Sanburg, Which was arrested in MarchHe agreed to acknowledge guilty on two charges of fraud, wires, concerned with crimes that could land in prison for up to 20 years each.

“This is called” activist “to combat poverty” has admitted that there is no more than a fraud that serves himself, by seeking to enrich himself through fraud. He said In a statement yesterday.

Sanburg is accused of relieving the source of the payments used to inflate the revenue numbers. He received intentions from companies interested in using tree transplant services at startup. Those messages have committed to tens of thousands of dollars per month in revenue, according to the US Public Prosecutor’s Office in the Central Region in California.

But the payments to ambition instead came from the legal entities controlled by Sanburg, which leads to the incorrect start of the startup revenues.

It was also claimed that Sanburg made a letter from the ambition auditing committee, which said it had a startup of $ 250 million in cash and equivalent available. In fact, ambition had less than a million dollars in cash.

Using this message fabricated and wrong revenue data, Sanburg is accused of obtaining $ 145 million loans by pledged his own shares of ambitious shares. He also claimed that he worked with a member of the ambition board of directors, Ibrahim Al -Husseini, to inflate the assets of Al -Hosani with tens of millions of dollars in an attempt to obtain these loans. Ambition aspires to loans twice.

In the end, victims of fraud suffered more than $ 248 million, according to the US Public Prosecutor’s Office.

The US Public Prosecutor’s Office said: “Sanburg continued to seek investors to invest in ambition papers until 2025.” It is expected to make an official call in the coming weeks.