Charlie Javice, founder of the education startup Frank, was convicted of defrauding JPMorgan Chase out of $175 million by greatly inflating her customer base from around 300,000 to 4 million. The conviction came after a five-week trial where evidence showed Javice's claims were significantly exaggerated. While her defense argued that JPMorgan was aware of the risks, the jury found her guilty. This case has drawn comparisons to other notable fraud cases in the tech industry. Javice faces a lengthy prison sentence as a result of the conviction.
A jury found Charlie Javice, founder of Frank, guilty of defrauding JPMorgan Chase by exaggerating her customer base from 300k to 4 million.
Javice's lawyer claimed JPMorgan was making accusations out of remorse, suggesting they knew the deal's risks despite the regulatory changes.
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