Saturday, 29 March, 2025

Charlie Javice Convicted of Defrauding JPMorgan in $175 Million Frank Acquisition

Charlie Javice, founder of the financial aid startup Frank, has been found guilty of defrauding JPMorgan Chase during its $175 million acquisition of her company. Javice misrepresented Frank's user base, inflating it from approximately 300,000 to over 4 million by creating fake customer data. After a five-week trial, she was convicted on charges including securities fraud and conspiracy, facing a potential sentence of up to 30 years in prison. ​