Charlie Javice Convicted of Defrauding JPMorgan Chase $175M

Charlie Javice, the founder of the financial aid startup Frank, was convicted of defrauding JPMorgan Chase of $175 million by falsely inflating her company's customer base during a five-week trial in a Manhattan federal court. Prosecutors revealed that she claimed to have over four million clients when in reality there were only about 300,000. Javice, alongside her co-defendant Olivier Amar, faces a potential prison sentence of decades for conspiracy, bank fraud, and wire fraud. Her defense argued that JPMorgan was aware of the company's actual metrics and accused the bank of fabricating allegations due to regret over the deal following regulatory changes. The jury's verdict came as Javice's rise to fame was marked by her appearances on media platforms and inclusion in Forbes' '30 Under 30' list, only to now face significant legal consequences. Sentencing is scheduled for July 23, 2025.