How Charlie Javice Got JPMorgan to Pay $175 Million - Check out in detail
When JPMorgan Chase paid $175 million to acquire a college financial planning company called Frank in September 2021
it heralded the “unique opportunity for deeper engagement” with the five million students Frank worked with at more than 6,000 American institutions of higher education.
In a lawsuit, JPMorgan claimed that Frank’s young founder, Charlie Javice, had engaged in an elaborate scheme to stuff that list of five million customers with fakery.
JPMorgan’s legal filing reads like pulp nonfiction, with jaw-dropping accusations.
Ms. Javice and Olivier Amar, Frank’s chief growth and acquisition officer, faked their customer list and hired a data science professor to help pull the wool over the eyes of the bank’s due-diligence team
What JPMorgan mostly left out, however, is the story of how Ms. Javice found herself in a nine-figure negotiation with the bank in the first place.
Ms. Javice’s career helping others began, in her telling, on the border of Thailand and Myanmar.
She spent time volunteering there one summer, between terms at her private high school in Westchester County, N.Y.
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