The Department of Justice filed criminal fraud charges against Charlie Javice, the founder of Frank, a startup college financial planning company for students. They allege she 'engaged in a brazen scheme' when she sold her company to JPMorgan Chase.
Charlie Javice, of Miami Beach, Fla., leaves Manhattan federal court, April 4, 2023, in New York., a startup college financial planning company for students, the global banking giant said that by acquiring the apparently popular platform for $175 million it hoped to strengthen its relationship with millions of young people.
Javice faces charges of bank fraud, securities fraud, wire fraud affecting a financial institution and conspiracy to commit bank and wire fraud. JPMorgan hired Javice as a managing director for Frank as part of its acquisition in 2021 but has said in court that its suspicions were raised when numerous purported Frank user emails subsequently appeared unreachable.Charlie Javice leaves Manhattan federal court, April 4, 2023, in New York, after signing a $2-million bond to remain free on charges that she duped J.P. Morgan Chase with fake records to acquire Frank, her student loan assistance startup company, for $175-million.
Her attorneys have also called the bank's investigations into Frank's data part of an unfounded attempt to deny her compensation while indicating that any business issues with Frank weren't of Javice's making. However, lawyers with JPMorgan contend that when Javice provided a spreadsheet with a column titled "FAFSA in Process" it indicated that more than 4.25 million students had opened accounts with Frank and provided detailed personal information to support that.
Prosecutors now must produce an indictment to move the criminal case forward, former federal prosecutor Indira Cameron-Banks told ABC News.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Feds probing JPMorgan deals following $175M Frank fraud accusations: reportThis comes after the government filed criminal charges accusing Charlie Javice, the founder of the now-shuttered college financial aid company Frank, of defrauding JPMorgan.
Baca lebih lajut »
'Daredevil Born Again': Everything About Charlie Cox's MCU ReturnAfter his 'Spider-Man' and 'She-Hulk' cameos, Matt Murdock is returning for a new Disney+ series.
Baca lebih lajut »
Best Patio for Tortured Writers - Charlie Brown's Bar & GrillHow many times have you tried to find a patio where you can scribble your most tortured thoughts into a leather bound journal while cigar smoke circles around you? Congrats to charliebrownbar for winning the best patio in Denver for tortured writers.
Baca lebih lajut »
Charlie Day Pokes Affectionate Fun at Hollywood With His Directorial Debut, ‘Fool’s Paradise’First Look: ‘Fool's Paradise,’ starring Ken Jeong and Ray Liotta in one of his final roles, is ‘Always Sunny’ actor Charlie Day's satirical take on a rising star’s journey in the movies.
Baca lebih lajut »
Charlie Kirk says gun deaths are 'worth' it to keep 2nd AmendmentThe conservative founder and president of Turning Point USA, deaths in exchange for the preservation of Second Amendment rights is part of America's reality.
Baca lebih lajut »
Video: A pause on AI development, why it's the worst time to buy a car in decades on CNN Nightcap | CNN BusinessNYU's Gary Marcus tells 'Nightcap's' Jon Sarlin why he signed an open letter calling for a six-month pause on AI development. Plus, CNN's Peter Valdes-Dapena explains why car prices may never go back to where they were pre-Covid. And Forbes' Alexandra Levine details the arrest of Charlie Javice, the 31-year-old fintech founder who sold her company to JPMorgan and now stands accused of fraud. To get the day's business headlines sent directly to your inbox, sign up for the Nightcap newsletter.
Baca lebih lajut »