Charlie Javice convicted of defrauding JPMorgan in $175M startup sale

NEW YORK (AP) — Charlie Javice, the charismatic founder of a startup company that claimed to be revolutionizing the way college students apply for financial aid, was convicted Friday of defrauding one of the world’s largest banks, JPMorgan Chase, out of $175 million by exaggerating her customer base tenfold. A jury returned the verdict after a five-week trial in federal court in Manhattan. Javice, 32, and her co-defendant, Olivier Amar, face the possibility of decades in prison in a case that has drawn comparisons to Theranos founder Elizabeth Holmes. Javice appeared sullen at the defense table as the verdict was read. A lawyer placed her hand on Javice’s back. She brushed past reporters and didn’t speak as she left court. Javice was in her mid-20s when she founded Frank, a company with software that promised to simplify the arduous process of filling out the Free Application for Federal Student Aid, a complex government form used by students to apply for aid for college or graduate ... Read full article.