Skip to main content
Charlie Javice Convicted of Defrauding JPMorgan Chase in $175M Fraud Case

Charlie Javice Convicted of Defrauding JPMorgan Chase in $175M Fraud Case

Charlie Javice, the founder of the student financial aid startup Frank, has been found guilty of defrauding JPMorgan Chase out of $175 million. The verdict was announced on March 28, 2025, following a trial that highlighted the deceptive practices used by Javice to inflate her company's value before its acquisition by the banking giant.

Javice was convicted on charges of wire fraud, bank fraud, securities fraud, and conspiracy. The case drew significant attention due to the high-profile nature of the fraud and the involvement of JPMorgan Chase, one of the largest banks in the United States. Prosecutors argued that Javice fabricated data to misrepresent Frank's user base, leading JPMorgan to overpay for the startup in 2021.

The conviction marks a significant fall from grace for Javice, who was once celebrated as a young entrepreneur in the fintech sector. The trial's outcome serves as a stark reminder of the consequences of corporate malfeasance and the importance of due diligence in business acquisitions.

Can you Like

In a whirlwind week on Wall Street, President Donald Trump’s dramatic U-turn on tariffs sparked historic market swings, razor-sharp warnings from banking titans, and a palpable sense of unease on the ...
Former President Donald Trump has decided to pause his proposed tariffs on China, a move influenced by his watching of a recent Fox News interview with Jamie Dimon, CEO of JPMorgan Chase. The decision...
JPMorgan Chase CEO Jamie Dimon has expressed significant concerns over the potential economic fallout from former President Donald Trump's proposed tariff policies. In recent statements, Dimon warned ...