The founder of the student loan assistance startup company Frank that J.P. Morgan Chase acquired for $175 million has been arrested on charges that she duped the financial giant by dramatically inflating the number of customers her company had.
FILE - The Department of Justice emblem at the U.S. Attorney's Office for the Southern District of Florida in downtown Miami is pictured on Jan. 25, 2023. On Monday, April 3, Charlie Javice, the founder of Frank, a student loan assistance startup company that J.P. Morgan Chase acquired for $175 million two years ago, was arrested on charges that she duped the financial giant by dramatically inflating the number of customers her company had, authorities said Tuesday, April 4.
NEW YORK — The founder of Frank, a student loan assistance startup company that J.P. Morgan Chase acquired for $175 million two years ago, has been arrested on charges that she duped the financial giant by dramatically inflating the number of customers her company had, authorities said Tuesday. A charging document in Manhattan federal court said she claimed her company had over four million users when it had fewer than 300,000 customers.
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