“Joseph Sanberg abused his authority and used lies to enrich himself at the expense of others,” said Acting Assistant Attorney General Matthew R. Galeotti in a statement. “His actions caused massive financial harm and eroded trust in our financial institutions. We will continue holding fraudsters accountable—regardless of their political status or affiliations.”

According to court documents, Sanberg misrepresented the financial health of Aspiration while soliciting funding, hiding liabilities, and inflating the company’s value. Though the company presented itself as a socially responsible financial services firm, Sanberg’s conduct allegedly undermined its ethical mission.

Federal election records reveal that Sanberg has contributed significant sums to liberal causes and Democratic campaigns, including donations to California Governor Gavin Newsom.

But Sanberg isn’t the only Democrat now facing serious legal consequences.

In Los Angeles, City Councilmember Curren Price is facing additional charges in a growing public corruption scandal