Frank Founder Jailed For Defrauding JPMorgan Chase

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.

Reviewed by JQJO team

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