Aspiration Partners made a splash when it entered the green investing space in 2013.
The Marina del Rey firm billed itself as a socially conscious online banking company, offering investments and focusing its finances on the climate crisis. It also generated and sold carbon credits meant to help offset greenhouse gas emissions.
Soon, it collected celebrity investors such as Leonardo DiCaprio, Orlando Bloom, Robert Downey Jr., and Steve Ballmer, the former Microsoft chief executive, philanthropist and owner of the Los Angeles Clippers.
But 12 years later, things have turned sour.
Earlier this year, the co-founder and another top company official agreed to plead guilty to wire fraud charges and scheming to bilk investors using falsified documents.