Charlie Javice, previously featured as a Forbes magazine '30 Under 30' honoree, allegedly lied about the number of customers her company serviced.
Charlie Javice, of Miami Beach, Fla., 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. Prosecutors say she claimed her company had over 4 million customers when it had fewer than 300,000 clients.
. "This arrest should warn entrepreneurs who lie to advance their businesses that their lies will catch up to them, and this Office will hold them accountable for putting their greed above the law."The company, Frank, had been billed as a way to simplify the student loan application process. Javice is accused of fabricating data to make it appear as though the platform had millions more users in order to sell the company for $175 million.
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