The U.S. government on Tuesday filed criminal charges accusing Charlie Javice, the founder of the now-shuttered college financial planning company Frank, of defrauding JPMorgan Chase & Co into buying the startup for $175 million in 2021.
People exit the headquarters of the U.S. Securities and Exchange Commission in Washington, D.C., U.S., May 12, 2021. Picture taken May 12, 2021. REUTERS/Andrew Kelly/File Photo/File PhotoNEW YORK, April 4 - The U.S. government on Tuesday filed criminal charges accusing Charlie Javice, the founder of the now-shuttered college financial planning company Frank, of defrauding JPMorgan Chase & CoJavice, 31, was accused by the Department of Justice of repeatedly lying to the largest U.S.
Authorities said JPMorgan discovered the fraud after receiving only a few responses when it sent marketing materials to people who Javice claimed were real customers.Frank in January, and Chief Executive Jamie Dimon branded the acquisition a "huge mistake" in a Jan. 13 conference call with analysts.
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