(6 Jun 2023)
RESTRICTION SUMMARY:
ASSOCIATED PRESS
New York - 6 June 2023
1. Various of Charlie Javice walking into federal court
STORYLINE:
The founder of Frank, a student loan assistance startup company that J.P. Morgan Chase acquired for $175 million two years ago, appeared in court in New York on charges that she duped the financial giant by dramatically inflating the number of customers her company had.
Charlie Javice, 31, of Miami Beach, Florida, was arrested in April in New Jersey on conspiracy, wire and bank fraud charges.
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.
Authorities said Javice, who appeared on the Forbes 2019 “30 Under 30” list, would have earned $45 million from the fraud.
Javice and her lawyer declined to comment on their way in to court.
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