Summary
Charlie Javice, the founder of the startup Frank, received a 7-year prison sentence for misleading JPMorgan Chase into buying her company for $175 million. She was found guilty of several fraud-related charges, including inflating customer numbers and creating fake data.
Key Facts
- Charlie Javice founded the startup Frank.
- She was sentenced to 85 months (about 7 years) in prison.
- She was convicted of deceiving JPMorgan Chase into buying her company for $175 million.
- Javice falsely increased her company's customer numbers to get JPMorgan Chase to buy it.
- Federal prosecutors and the SEC charged her with conspiracy, wire fraud, bank fraud, and securities fraud.
- The case involved a six-week jury trial in New York City.
- Javice was ordered to pay over $309 million in restitution.
- She expressed remorse during her sentencing.
