The U.S. government has filed criminal charges accusing Charlie Javice, the founder of the college financial planning platform Frank, of defrauding JPMorgan Chase into buying her startup for $175 million in 2021.
The U.S. government on Tuesday filed criminal charges accusing Charlie Javice, the founder of the since-shuttered college financial planning platform Frank, of defrauding JPMorgan Chase into buying her startup for $175 million in 2021.
Authorities said JPMorgan discovered the con after receiving only a few responses when it sent marketing materials to people on a sham list of names that Javice claimed were real customers. Lawyers for Javice did not immediately respond to requests for comment. The defendant was arrested on Monday night in New Jersey, prosecutors said.
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