Founder of student aid startup Frank shakes head as prosecutor describes case against her

Published July 13, 2023 5:51 PM

By LARRY NEUMEISTER
Associated Press

NEW YORK (AP) — The founder of student aid startup Frank shook her head repeatedly as a prosecutor claimed she tricked J.P. Morgan Chase into paying $175 million for her business by lying about its client base. The Manhattan federal prosecutor described the criminal case against Charlie Javice to a Manhattan federal judge at a pretrial hearing Thursday. Javice and newly charged codefendant Olivier Amar have each pleaded not guilty to an indictment unveiled Wednesday. Javice’s attorney has predicted that J.P. Morgan Chase communications that are yet to be given to attorneys will ultimately support his client’s contention that she did not act illegally.

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