Startup Founder Guilty of Defrauding JPMorgan Chase

Startup Founder Guilty of Defrauding JPMorgan Chase

Newser - Crime·2025-03-30 01:01

Charlie Javice, the charismatic founder of a startup company that claimed to be revolutionizing the way college students apply for financial aid, was convicted on Friday of defrauding one of the largest US banks, JPMorgan Chase, out of $175 million by exaggerating her customer base by 10 times. A jury in New York City returned its verdict after a five-week trial. Javice, 32, faces the possibility of a lengthy prison term, per the AP. Javice was in her mid-20s when she founded Frank, a company with software that promised to simplify the process of filling out the Free Application for Federal Student Aid, or FAFSA, a complex government form used by students to apply for aid for college or graduate school.

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