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Startup founder convicted of defrauding JP Morgan Chase

"Today, a unanimous jury found Charlie Javice and Olivier Amar guilty of orchestrating a brazen fraud. Javice, the founder and CEO of Frank, falsely claimed that her company had millions of customers when, in reality, it had just a fraction of that number. She and Amar, the Chief Growth Officer, fabricated data, lied to major financial institutions, and sold their business for $175 million."

"And while Javice and Amar may have thought that they could lie and cheat their way to a huge payday, their lies caught up with them, and they now stand convicted by a jury of their peers in federal court. This Office will continue to pursue financial fraud aggressively and hold accountable those who put greed above honesty. I commend the career prosecutors of this Office and our law enforcement partners who worked tirelessly to bring this case to trial and secure today's verdict.

"Thanks to their efforts, Javice and Amar will now pay a steep price for their lies," says Matthew Podolsky, Acting US Attorney in the Southern District of New York in a statement after Chase got their bloody revenge for being suckered into paying $175 million for Javice and Amar's lame student loan financing startup without first checking the fake database full of nonexistent customers. Chase only found out the customers were largely fake when they tried to spam the "Frank" database and just 28 percent of the email addresses were deliverable, per the Wall Street Journal.

It's kind of like what Trevor Milton, the founder of Nikola did: He lied to investors about how many pre-orders he got for his vaporware electric semi trucks, yet for just about a $2 million investment in contributions to Republican PACs, including $920,000 to one called "Trump 47," Milton got himself a pardon absolving him of four years in the joint and owing $695 million in restitution. On Friday Trump told reporters the case was a witch hunt, not mentioning that it started when he was president.

So yeah, Podolsky's talk about holding accountable "those who put greed above honesty" has some asterisks to it these days. Not just the Milton one but the Eric Adams, Andy Ogles, and Ken Paxton ones too. Plus that crypto scumbag Justin Sun. And those are just the ones we know about.

Hopefully for Javice's sake she's still got $2 million lying around and can cut a check to buy up $2 million in Truth Social stock or NFTs or something. It's worth a shot and it's not like Jamie Dimon's going to speak up and complain about her getting pardoned. Dimon's a pussy-ass bitch.

Created by potrace 1.16, written by Peter Selinger 2001-2019

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