Startup founder Charlie Javice sentenced to 7 years in prison for defrauding JPMorgan Chase

Charlie Javice, founder of fintech startup Frank, was sentenced to 7 years and 1 month in prison for defrauding JPMorgan Chase by inflating her company’s customer numbers before its $175 million acquisition in 2021.

Javice and her chief growth officer were convicted on fraud and conspiracy charges after a jury found that she had created millions of fake accounts to misrepresent Frank’s reach.

In addition to prison, she was ordered to pay $287 million in restitution, $22.36 million in forfeiture, and serve three years of supervised release, CNBC has reported.

Javice expressed remorse in court and will remain free on bail while appealing the sentence.

read more: https://www.cnbc.com/2025/09/29/jpmorgan-chase-frank-charlie-javice-sentencing.html

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