Charlie Javice, founder of the college financial aid startup Frank, was found guilty of defrauding JPMorgan Chase by falsely claiming her company had four million users instead of fewer than 300,000. She paid a math professor $18,000 to create a fake list of students, leading to JPMorgan's $175 million acquisition in 2021. The bank's due diligence failed to uncover the deception until after the deal, highlighting the risks of startup exaggeration and the need for thorough verification in high-stakes transactions.