Charlie Javice, college financial aid startup founder, found guilty of defrauding JPMorgan

Charlie Javice, founder of the now-defunct college financial aid company Frank, was found guilty of swindling JPMorgan Chase into buying her company for $175 million.

Prosecutors accused Javice of falsely inflating her company’s user base, claiming 4.25 million customers when only 300,000 were verified.

She faces up to 30 years in prison for wire fraud, bank fraud, and conspiracy, with a lower maximum sentence for securities fraud.

The case also involves her chief growth officer, Olivier Amar, who is accused of assisting in the fraud but denied any involvement, NBC News has reported.

Javice did not testify, and her lawyer argued the case lacked solid evidence.

read more: https://www.nbcnews.com/news/us-news/verdict-charlie-javice-jp-morgan-fraud-case-rcna198364

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