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When questioned about the allegations, the Clippers issued a statement vehemently denying any misconduct, asserting that Balmer was merely an innocent investor duped by the company's founders, including Joseph Sandberg. Balmer meanwhile took to ESPN, claiming he was "conned" — a story that quickly unraveled considering Sandberg's own federal history.
Sandberg had previously pled guilty to federal charges for orchestrating a $248 million fraud scheme, involving fake financial statements and lying to investors. The suggestion that Balmer invested without knowledge of Sandberg's criminal background strains credibility, especially given his stature as a former Microsoft CEO.