Charlie Javice, the founder of student loan application startup Frank that was purchased by JPMorgan for $175 million, was found guilty on Friday of defrauding the bank by greatly inflating the customer count. After a five-week trial, the jury found Javice guilty, agreeing with prosecutors’ claims that she fabricated the vast majority of Frank’s customer…
Category: Charlie Javice
Charlie Javice, Fintech, Frank, Global Security News, jpmorgan, TC
Charlie Javice trial becomes a master class in hubris for both sides
Charlie Javice’s high-profile fraud trial has become a showcase of embarrassing missteps on both sides, with eyebrow-raising details about how JPMorgan Chase was allegedly deceived into buying her startup, Frank, for $175 million when it had just 300,000 customers instead of four million. Per a new WSJ article, one pivotal moment came when former Frank…
Charlie Javice, Fintech, Global IT News, Global Security News, jpmorgan, Startups
Fintech founder Charlie Javice’s criminal trial has begun
The criminal trial against fintech startup founder Charlie Javice began on Friday, with lawyers laying out their opening arguments, Reuters reported. Lawyers reiterated their original claims and defenses from the lawsuit filed by JPMorgan Chase against Javice in December of 2022. The financial services giant alleges that Javice had helped “fake millions of customers in…