Reported: Frank FRNK (Company)
Compiled by ScamMarketCap from public recordsHappened Dec 22, 2022United States
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 outside data scientist to create a fake data set, and she and growth chief Olivier Amar bought data on 4.5 million real students for $105,000. JPMorgan bought Frank for $175 million, and Javice received more than $21 million for her stake.
In March 2025 a federal jury in Manhattan convicted Javice and Amar of conspiracy, wire fraud, bank fraud and securities fraud. Javice was sentenced in September 2025 to 85 months in prison and ordered to forfeit about $22.4 million and to pay $287.5 million in restitution, jointly with Amar, who was sentenced to five years and eight months. The judge allowed her to remain free on bail during her appeal, and in June 2026 The Wall Street Journal reported that she was seeking a presidential pardon.
This case file is compiled from public records and established reporting. Status as of the last update, Nov 1, 2026.
Case files summarize court records, regulator actions and established reporting.
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