Javice, found guilty of JPMorgan fraud in the purchase of a startup in the amount of USD 175 million

Charlie Javice, the founder of the startup of applications for a student loan Frank, who was purchased by JPMorgan for $ 175 million, was found guilty on Friday after the bank’s scammers by significantly filling the number of customers.

After a five -week trial, the jury recognized Javice more, agreeing with prosecutors’ claims that she fabricated the overwhelming majority of the Frank clients list to cheat JPMorgan to get their startup.

When JPmorgan bought Frank in 2021, the bank thought that the startup had 4 million customers. The bank learned that the actual number of customers was only 300,000, when he later sent testing E -Maile marketing to the alleged franc of users and about 70% of these messages affected.

Javice allegedly hired a mathematics professor to create false customer data, which she transferred to JPMorgan when the bank was considering buying its company.

Defenders’ lawyers argued that the lawsuit was the result of the buyer’s remorse resulting from the change of government in the manner of completing the financial assistance forms. Javice pleaded not guilty and didn’t take the position during the trial.

Javice, who’s currently 32 years old, will be sentenced to prison a long time. The sentence is anticipated to happen in August, According to the CNBC report.

Javice founded Frank in 2017, when she was in the mid -Nineteen Twenties. In 2019, she was appointed to Forbes 30 below 30.