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Charlie Javice, founder of the startup Frank, was convicted of defrauding JPMorgan Chase of $175 million by inflating her client base during the bank's acquisition of her company in 2021. Along with co-defendant Olivier Amar, she faces up to 30 years in prison for conspiracy, bank fraud, and wire fraud. The judge will consider a defense request to overturn the verdict next week, with sentencing scheduled for July 23.
Charlie Javice, once a celebrated fintech entrepreneur, was convicted of defrauding JPMorgan Chase in a scheme that inflated her startup Frank's customer base to secure a $175 million acquisition. A jury found her and co-defendant Olivier Amar guilty of multiple fraud charges, revealing a fabricated customer count that misled the bank. Both face significant prison time, with Javice's sentencing scheduled for August 26, marking a dramatic fall from grace for a figure once lauded in the industry.
Charlie Javice, founder of the startup Frank, was convicted of defrauding JPMorgan Chase out of $175 million by inflating user numbers from 4 million to just 300,000. A jury found her and co-defendant Olivier Amar guilty of conspiracy, bank fraud, and wire fraud, each facing up to 30 years in prison. Javice, who remains free on bail, is set for sentencing on July 23, while her defense argues the evidence was insufficient and disputes over ankle monitors continue.
Charlie Javice was convicted of defrauding JPMorgan Chase in the $175 million acquisition of her college financial aid startup, Frank. Along with co-defendant Olivier Amar, she faced charges of securities, wire, and bank fraud, with sentencing set for later this year. Prosecutors revealed that Javice misrepresented Frank's customer base, claiming 4.25 million users instead of the actual 300,000, leading to JPMorgan's lawsuit and subsequent criminal charges.
Charlie Javice was convicted of defrauding JPMorgan Chase in the $175 million acquisition of her college financial aid startup, Frank. Along with co-defendant Olivier Amar, she faced charges of securities fraud, wire fraud, bank fraud, and conspiracy, with sentencing set for later this year. Prosecutors revealed that Javice misrepresented Frank's customer base, claiming 4.25 million users instead of the actual 300,000, leading to JPMorgan's lawsuit and subsequent criminal charges.
Matthew Podolsky
People
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startup founder convicted of 175 million fraud against jpmorgan chase
18:30 30.03.2025
charlie javice convicted of fraud in jpmorgan acquisition case
JPMorgan Chase & Co.
ISR
USA
Sean Buckley
Jamie Dimon
Matthew Podolsky
Ronald Sullivan
Alvin Hellerstein
Olivier Amar
Jose Baez
Charlie Javice
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08:12 30.03.2025
startup founder convicted of defrauding jpmorgan chase in 175 million scam
JPMorgan Chase & Co.
USA
Alvin Hellerstein
Charlie Javice
Olivier Amar
Jose Baez
Matthew Podolsky
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05:12 29.03.2025
charlie javice convicted of defrauding jpmorgan in college startup deal
JPMorgan Chase & Co.
USA
Sean Buckley
Jamie Dimon
Rushmi Bhaskaran
Matthew Podolsky
Ronald Sullivan
Alvin Hellerstein
Olivier Amar
Jose Baez
Charlie Javice
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20:55 28.03.2025
charlie javice convicted of defrauding jpmorgan in college startup deal
JPMorgan Chase & Co.
USA
Charlie Javice
Olivier Amar
Sean Buckley
Jamie Dimon
Jose Baez
Matthew Podolsky
Rushmi Bhaskaran
Show more
20:01 28.03.2025
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