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Sep 29, 2025 8:00 PM

Businesswoman Charlie Javice Gets 7 years In Prison For Defrauding JPMorgan Chase

Charlie Javice, founder of the student-aid startup Frank that JPMorgan Chase & Co. (NYSE: JPM) acquired in 2021 for $175 million, was sentenced Monday to just over seven years in prison for misleading the bank about her company's customer base.

Earlier this year, a jury convicted Javice and her Chief Growth Officer, Olivier Amar, on fraud and conspiracy charges, according to CNBC.

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Courtroom Statements

Javice, now 33, broke down while apologizing to the court, JPMorgan, employees, investors and her family.

She admitted regret and pleaded for mercy, ...