ChapmanAlbin Files FINRA Arbitration to Recover $750,000 for Investor Defrauded by Aspiration Partners Broker

The investor rights attorneys at ChapmanAlbin have filed a FINRA arbitration claim against a Cleveland-based broker who recommended a fraudulent investment in Aspiration Partners, Inc. to one of our clients, resulting in catastrophic losses.

According to the allegations, the broker touted Aspiration as a high-upside opportunity, claiming the company was on track for an IPO within a year. He assured the investor that once the company went public, early investors would see substantial profits. Relying on those representations—and the broker’s long-standing relationship with him—the investor placed $750,000 of his retirement savings into the company.

Unfortunately, that advice was not only reckless, but also wildly misleading.

Due Diligence Ignored. Red Flags Missed.

The arbitration filing alleges that the broker failed to conduct any meaningful due diligence before recommending Aspiration. Instead, he relied almost entirely on a glowing “valuation report” that, as later revealed, was completely fabricated by Aspiration’s own promoters. The broker never verified the report’s authenticity or examined Aspiration’s financials independently.

In March 2025, Aspiration—since renamed Catona Climate—filed for bankruptcy, and one of its co-founders was arrested for fraud. The investor was left stunned and devastated, having lost nearly all of the $750,000 he had invested.

ChapmanAlbin Is Seeking Full Compensation

The attorneys at ChapmanAlbin are pursuing full recovery of the investor’s losses, along with punitive damages, attorneys’ fees, and costs, based on claims of:

• Negligence and failure to conduct due diligence
• Violations of the Ohio Securities Act
• Violations of FINRA’s Suitability Rule

Were You Sold on Aspiration Partners?

If you invested in Aspiration Partners, Inc., you may also have been misled by a broker who failed to protect your interests. These types of private placement frauds often target retirees and other conservative investors with false promises of high returns.

You do not have to accept these losses. ChapmanAlbin has helped clients across the country recover money lost due to brokerage firm misconduct, unsuitable investment recommendations, and securities fraud.

Contact us today for a free consultation. We’ll review your case and help you understand your rights.