EXCLUSIVE: Green Investor, Climate Change Activist Charged With Securities Fraud

Ibrahim AlHusseini , a left-wing venture capitalist, has been charged by federal prosecutors with securities fraud.

The FBI alleged that he swindled investors in a deal involving $150 million in stock in Aspiration , a progressive banking app and carbon-credits company with the tagline “clean rich is the new filthy rich” AlHUSseini transferred $300 million to Saudi Arabia to avoid his debts.

He was arrested on October 7 and jailed until December 21 , when prosecutors agreed to release him on $3 million bail put up by a who’s-who of liberal activists and environmentalists.

Aspiration has been accused of distorting numbers to increase its profits while falling short of progressive commitments it uses to lure customers.

AlHusseini allegedly transferred hundreds of millions of dollars to Saudi Arabia , transferred ownership of his Venice , California mansion to his brother.

He fired his lawyer, left him unrepresented in the court case, changed his address in court documents to Lebanon , and allegedly took steps to avoid service.