""haunted that my failure has transformed something meaningful into something infamous.""
""made a choice that I will spend my entire life regretting.""
""a 28-year-old versus 300 investment bankers from the largest bank in the world.""
""they have a lot to blame themselves""
""punishing her conduct and not JPMorgan's stupidity.""
Charlie Javice founded Frank as a platform to help college students apply for financial aid and later claimed the company served over 4 million customers. JPMorgan Chase acquired Frank in summer 2021 for approximately $175 million based on those representations. Javice was convicted in March of conspiracy, bank fraud and wire fraud after evidence showed Frank had fewer than 300,000 customers. A judge sentenced her to more than seven years in prison but allowed her to remain free on $2 million bail while she appeals. The judge faulted JPMorgan's due diligence but said he was punishing Javice's conduct. Comparisons arose to other high-profile startup frauds.
Read at Fast Company
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