A 30 year-old entrepreneur is being sued by JPMorgan, which claims it was misled into buying her education startup for $175million.
JPMorgan Chase says that Charlie Javice created four million fake users to increase the credibility of her fintech company Frank when she sold it to the bank in 2021.
Javice started the company in 2019 at 24 and was listed on the Forbes 30-under-30 list in 2016.
Frank offers software to improve the student loan application process for Americans seeking financial aid and it was once branded 'the Amazon of higher education.'
Javice and another executive at the company, Olivier Amar, allegedly paid a data scientist $18,000 to create a list of fake customers when its own employee refused, the lawsuit alleges.
Javice, who is the daughter of a successful investment manager based in New York, purchased an apartment in Miami Beach in May 2021 for just under $1.5million, according to Miami-Dade property records.
She started Frank a few years after graduating from Wharton business school, she revealed during an interview about her entrepreneurial success with a former tutor, which the school uploaded to its YouTube channel.
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In the lawsuit, filed in a US District Court in Delaware last...
WASHINGTON, D.C., DC, UNITED STATES, May 6, 2026 /EINPresswire.com/ -- Brown, LLC, a nationally recognized whistleblower law firm and leader in False Claims Act (FCA) litigation, today announced t...