After her conviction earlier this year, Charlie Javice, who sold her fraudulent startup to JPMorgan Chase for $175 million, learned on Monday that she will receive seven years in prison.
Javice, 33, started a digital platform called Frank, a solution that claimed to help college students with financial aid, according to a report from CNBC.
JPMorgan Chase acquired the firm, publicly asserting that Frank had helped over five million students seek financial aid.
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But a few months later, the powerful Wall Street investment bank realized that Frank only had 300,000 true customers.
Javice fabricated the rest of them with the help of a data scientist, leading to her arrest in 2023.
She and her chief growth officer, Olivier Amar, were found guilty on three counts
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