SMC-1031CorporateCase file
Frank: a student-aid start-up sold to JPMorgan with fake customers
Frank was a start-up with an online tool that helped students apply for US federal student aid. In 2021 founder Charlie Javice told two banks, including JPMorgan Chase, that Frank had 4.25 million users; it had about 300,000. When JPMorgan asked for proof, Javice hired an outs…
Reported: Frank
- Reported losses
- $175M
- People affected
- 0 affected