Charlie Javice, founder of the fintech startup Frank, has been sentenced to seven years in prison for defrauding JPMorgan Chase. The bank acquired Frank for $175 million, later alleging Javice inflated customer numbers from 300,000 to 4 million. Evidence presented during the trial, including testimony from a former engineer and a data scientist who created synthetic data, supported the prosecution's case. Javice and co-defendant Olivier Amar must also pay $278.5 million in restitution.

Prepared by Emily Rhodes and reviewed by editorial team.