JPMorgan Chase & Co’s Acquisition Deal Goes Awry, Startup Founder Arrested on Fraud Charges
Charlie Javice, the young founder of Frank, a startup that helped students simplify their loan applications, was arrested in the US on fraud and conspiracy charges. JPMorgan Chase acquired Frank for $175 million and claimed that Charlie had fabricated the number of users on her platform. The bank filed a lawsuit against her in 2022, leading to her arrest. Javice now faces three charges of fraud and one of conspiracy, carrying a 20-30 year prison term. She was granted bail at $2 million. The Securities and Exchange Commission also filed related civil charges. Fraud and Conspiracy Charges Against Charlie Javice…
