The Rise of the Con Artist Charlie Javice: How a 28-Year-Old Scammed JP Morgan for $175 Million

JP Morgan Chase bought fintech startup Frank from its founder Charlie Javice for $175 million in 2021. However, JP Morgan is now suing Javice for allegedly tricking the bank into buying Frank, which simplifies the student financial aid application process, by creating a list of over 4 million fake college-aged users. JP Morgan claims that fewer than 300,000 students were actually signed up. Javice has since been fired and is also suing JP Morgan for allegedly denying her millions in compensation that she was owed. Banks and investors are now distancing themselves from Javice, who has been accused of exaggerating her company's success and making inaccurate statements during early investor meetings.

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