Charlie Javice and Olivier Amar found guilty of defrauding JPMorgan in college aid startup sale

From Yahoo Finance: 2025-03-28 15:01:00

Entrepreneur Charlie Javice and Olivier Amar were convicted of defrauding JPMorgan Chase into buying their college financial aid startup for $175 million. They each face decades in prison and could be sentenced in July and August. Javice founded Frank in 2017 and appeared on Forbes’ “30 Under 30” list in 2019. JPMorgan sued her in December 2022 for lying about Frank’s customer base. The bank discovered the inflated numbers, leading to criminal charges. Javice’s lawyer claims JPMorgan had buyer’s remorse. Javice now works as a Pilates teacher and may require full-time location monitoring. The judge will decide on April 1.



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