Former Microsoft CEO Steve Ballmer has penned a damning letter to the judge ahead of the sentencing of his once-backed entrepreneur, Joseph Sanberg. Sanberg pleaded guilty to wire fraud after leading Aspiration Partners, a high-profile green fintech startup that promised sustainable banking services but was rife with financial misdeeds.

Ballmer invested $60 million in Aspiration and lost it all. He also had an association with the company through carbon offsetting programs for his NBA team, the Los Angeles Clippers, which could face fallout from salary cap allegations. Ballmer’s letter to the judge detailed the losses he suffered and the negative impact on his reputation.

In a twist of irony, Ballmer feels ‘duped’ by an entrepreneur he backed, and now finds himself entangled in lawsuits stemming from public attention around Aspiration’s fraudulent practices. The case serves as a stark reminder: if you fabricate financial documents to raise capital, prison is the likely outcome.

The story highlights the perils of backing startups with questionable ethics and the far-reaching consequences for even the most well-intentioned investors. Ballmer’s $60 million loss and the NBA’s ongoing investigation underscore the risks and potential repercussions in such ventures.