JP Morgan fraud: 32-year-old CEO duped US largest bank of $175mn; sentenced for 7 yrs

Charlie Javice, founder of Frank, was sentenced to seven years in jail for defrauding JPMorgan Chase of $175 million. She was convicted of faking over 4 million customers to facilitate the sale of her fintech startup. The judge highlighted her duplicity while also criticizing JPMorgan’s inadequate due diligence during the acquisition.
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