"Javice perpetrated a $175 million fraud-repeatedly lying about the success of her startup company and even hiring a data scientist to create fake data to back up her lies,"
"sends a clear message that brazen frauds will be met with serious penalties,"
"not a day passes that I do not feel profound remorse,"
JPMorgan Chase sued Frank in March 2023 alleging Javice lied about the company's size. Federal prosecutors and the U.S. Securities and Exchange Commission filed criminal and civil fraud charges a month later. In March this year, Javice and Frank chief growth officer Olivier Amar were found guilty of conspiracy, wire fraud, bank fraud, and securities fraud after a six-week jury trial in New York City. U.S. attorney Amanda Houle described the scheme as a $175 million fraud and said Javice hired a data scientist to create fake data. Javice was sentenced and ordered to pay $309,862,055 in restitution and expressed profound remorse.
Read at Axios
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