• Latest
  • Trending

Fintech Founder Charlie Javice Sentenced to 7 Years for $175M JPMorgan Fraud

September 30, 2025

Commissioner, police orderly die in auto crash

October 24, 2025

Why I rejected idea to make El-Rufai my successor – Obasanjo

October 24, 2025

Bauchi gov elevates brother to first-class emir

October 24, 2025

FATF Removes Nigeria from Greylist, Boosting Financial Credibility

October 24, 2025

Healthcare Assistant Jailed for Sexual Abuse of Vulnerable Mental Health Patient

October 24, 2025

Tinubu congratulates Japan’s first female PM Sanae Takaichi

October 24, 2025

Tinubu Appoints New Nigerian Service Chiefs in Major Military Shake-up

October 24, 2025

President Confers GCON Honor on Sir (Dr.) Kesington Adebutu on His 90th Birthday

October 24, 2025

N’Assembly reviews proposals for 55 new states, 278 councils

October 24, 2025

Ondo accident: Attorney-General promises justice, crackdown on truck owner

October 24, 2025

CBN Introduces Stricter ATM Regulations to Boost Security and Accessibility

October 24, 2025

Ecuador’s president raises the alarm over attempted poisoning

October 24, 2025

Nigerian-born Margaret Obi Makes Historic Appointment as High Court Judge in England and Wales

October 24, 2025

Abiodun Urges Ogun Traditional Rulers to Lead with Humility and Integrity

October 24, 2025

Troops Repel Boko Haram Attack on FOB Katarko, Neutralize 23 Terrorists

October 24, 2025

Ondo State CPS Continues Support for Children of Deceased Journalists

October 24, 2025

BCU Appoints Prof. Waheed as Vice-Chancellor

October 24, 2025

Soldier Found Dead After Chasing Stick-Wielding Attacker

October 23, 2025

NMDPRA Alerts Oil, Gas Operators on Impending Flood in Ogun, Lagos

October 23, 2025

UK Supreme Court Upholds Nigeria’s £44M Legal Costs Against P&ID

October 23, 2025

Ogun State Appeals for Patience Amid Abeokuta–Sango Ota Road Rehabilitation

October 23, 2025

Ghana Mourns Passing of Former First Lady Nana Konadu Agyeman-Rawlings at 76

October 23, 2025

PCN Seals 498 Illegal Medicine Shops Across Lagos

October 23, 2025

Police present ₦33.8m to families of fallen officers

October 23, 2025

Fight Against Cybercrime: Olukoyede Urges Multi-Stakeholder Collaboration

October 23, 2025

EFCC Arrests Ayodele Toyosi and Companies for Alleged ₦442m Fraud in Lagos

October 23, 2025

FG Re-awards Ibadan–Ife–Ilesha Express Road Project to New Contractor

October 23, 2025

EFCC Recovers ₦566bn, $411m, 1,502 Properties in Two Years of Olukoyede’s Leadership

October 23, 2025

Tinubu Swears in Amupitan as INEC Chairman, Urges Integrity Ahead of Anambra Poll

October 23, 2025

Man stabs friend to death over girlfriend

October 23, 2025
ADVERTISEMENT
  • Home
  • BREAKING NEWS
  • Tech
  • Entertainment
  • Lifestyle
  • Education
    • Sports
ValidView Network - Breaking News, Nigerian News, Nigerian newspapers, Entertainment, Videos, Sports, Business and Politics.
ADVERTISEMENT
  • Home
  • BREAKING NEWS
  • Tech
    • All
    • Apps

    A New Era Begins: Traffic Lights to Add Fourth White Signal for Autonomous Vehicles

    Nigerian Girls Triumph at 2025 Technovation Global Summit with AI Safety App

    Trump sees progress on TikTok, says will visit China

    French lawmakers urge socialmedia ban for under-15s

    The Future of Internet Connectivity in Nigeria: Opportunities and Challenges

    CBN awards OPay for financial inclusion innovation

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
  • Entertainment
    • All
    • CELEBRATIONS
    • Gaming
    • History and Culture
    • Movie
    • Music
    • Sports

    Abiodun Urges Ogun Traditional Rulers to Lead with Humility and Integrity

    FULL LIST: Osimhen, Salah make CAF 2025 African male player nominees list

    Country Banned from World Cup Despite Being Larger Than UK

    WAFCON qualifier: Oshoala, Omewa, seven others arrive camp

    18-Year-Old Footballer Killed by Kidnappers After Failed Ransom

    Senator Ned Nwoko Alleges Ann Idibia as Drug Supplier to Regina Daniels Amid Domestic Turmoil

  • Lifestyle
    • All
    • Health

    Ondo State CPS Continues Support for Children of Deceased Journalists

    PCN Seals 498 Illegal Medicine Shops Across Lagos

    Ogun Unveils Free Breast Cancer Screening Clinic, Plans for 10,000 Women

    Lagos Launches Technical Group for Measles-Rubella Vaccine Rollout

    Experts Demand Compulsory Newborn Screening for Sickle Cell in Nigeria

    Ondo revives EMS, offers accident victims 48 hours free treatment

    Trending Tags

    • Golden Globes
    • Game of Thrones
    • MotoGP 2017
    • eSports
    • Fashion Week
  • Education
    • Sports
No Result
View All Result
  • Home
  • BREAKING NEWS
  • Tech
    • All
    • Apps

    A New Era Begins: Traffic Lights to Add Fourth White Signal for Autonomous Vehicles

    Nigerian Girls Triumph at 2025 Technovation Global Summit with AI Safety App

    Trump sees progress on TikTok, says will visit China

    French lawmakers urge socialmedia ban for under-15s

    The Future of Internet Connectivity in Nigeria: Opportunities and Challenges

    CBN awards OPay for financial inclusion innovation

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
  • Entertainment
    • All
    • CELEBRATIONS
    • Gaming
    • History and Culture
    • Movie
    • Music
    • Sports

    Abiodun Urges Ogun Traditional Rulers to Lead with Humility and Integrity

    FULL LIST: Osimhen, Salah make CAF 2025 African male player nominees list

    Country Banned from World Cup Despite Being Larger Than UK

    WAFCON qualifier: Oshoala, Omewa, seven others arrive camp

    18-Year-Old Footballer Killed by Kidnappers After Failed Ransom

    Senator Ned Nwoko Alleges Ann Idibia as Drug Supplier to Regina Daniels Amid Domestic Turmoil

  • Lifestyle
    • All
    • Health

    Ondo State CPS Continues Support for Children of Deceased Journalists

    PCN Seals 498 Illegal Medicine Shops Across Lagos

    Ogun Unveils Free Breast Cancer Screening Clinic, Plans for 10,000 Women

    Lagos Launches Technical Group for Measles-Rubella Vaccine Rollout

    Experts Demand Compulsory Newborn Screening for Sickle Cell in Nigeria

    Ondo revives EMS, offers accident victims 48 hours free treatment

    Trending Tags

    • Golden Globes
    • Game of Thrones
    • MotoGP 2017
    • eSports
    • Fashion Week
  • Education
    • Sports
No Result
View All Result
ValidView Network - Breaking News, Nigerian News, Nigerian newspapers, Entertainment, Videos, Sports, Business and Politics.
No Result
View All Result

Fintech Founder Charlie Javice Sentenced to 7 Years for $175M JPMorgan Fraud

ValidViewNetwork by ValidViewNetwork
September 30, 2025
in Business
0 0
0
Home News Business
ADVERTISEMENT
0
SHARES
30
VIEWS
Share on FacebookShare on Twitter
ADVERTISEMENT
Spread the love

Charlie Javice, the founder of college financial aid fintech startup Frank, was sentenced by a Manhattan federal court on Monday to seven years in prison for defrauding JPMorgan Chase into acquiring her company for $175 million under false pretenses. U.S. District Judge Alvin Hellerstein handed down the sentence of 85 months, followed by three years of supervised release, emphasizing the need for strong deterrence against white-collar crime.

Javice, 33, was convicted in March on four counts including fraud and conspiracy after fabricating a customer list that falsely inflated Frank’s user base from fewer than 300,000 actual users to over 4.25 million. This deception persuaded JPMorgan to proceed with the $175 million purchase in 2021, a deal later branded a “huge mistake” by JPMorgan CEO Jamie Dimon when the bank found it could not contact the purported customers.

As part of her sentence, Javice was ordered to forfeit more than $22 million in salary, stock, and bonuses received during the sale and her subsequent role at JPMorgan. Additionally, she and her co-defendant Olivier Amar, Frank’s former chief growth officer who was also convicted and awaits sentencing, must pay restitution totaling $287.5 million, which includes the purchase price plus legal fees JPMorgan incurred.

Advertisement. Scroll to continue reading.
ADVERTISEMENT

Fighting back tears in court, Javice expressed “profound remorse” for her actions, apologizing to JPMorgan shareholders, her family, and company stakeholders. Despite her apology, Judge Hellerstein made clear that the seriousness of her crime warranted a strong sentence to discourage similar offenses in the financial sector.

Javice’s defense had requested an 18-month term, describing the fraud as a lapse in judgment, while prosecutors had sought a harsher 12-year sentence. Javice has pleaded not guilty and plans to appeal the conviction. The case has attracted significant attention as a cautionary tale about the risks of inadequate due diligence in high-value tech acquisitions.

ADVERTISEMENT

The fraud involved creating a fictitious customer list provided to a third-party vendor who validated it to JPMorgan during acquisition negotiations, a list filled with fake identities and data improperly representing Frank’s actual user base. This deception led to one of the highest-profile fintech fraud cases in recent years, reinforcing the importance of transparency and honesty in the startup investment ecosystem.

Javice was once celebrated on Forbes’ “30 Under 30” list in 2019 and lauded for making college financial aid more accessible. However, her rapid fall from grace highlights the consequences of fraudulent conduct in the business world.

This sentencing marks the close of a dramatic chapter in fintech, underscoring the judiciary’s commitment to penalizing financial fraud and protecting investors and institutions from deceptive practices.

Do you want to share a story with us?
Do you want to advertise with us?
Do you need publicity for a product, service, or event?
Contact us on WhatsApp +2348033617468, +234 816 612 1513, +234 703 010 7174
or Email: validviewnetwork@gmail.com
CLICK TO JOIN OUR WHATSAPP GROUP
ADVERTISEMENT
Previous Post

YouTube to pay $22 million in settlement with Trump

Next Post

Middle East, European leaders welcome Trump’s Gaza ceasefire plan

ValidViewNetwork

ValidViewNetwork

Next Post

Middle East, European leaders welcome Trump’s Gaza ceasefire plan

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Get the latest news from ValidViewNetwork
Loading

SPONSORED ADVERT

SPONSORED ADVERT

As the Lord liveth, you are feeling bushing this 6th month better and stronger than the way you started it in Jesus Mighty Name. Our angels of good news shall locate us this month. Shalom!

  • Home
  • BREAKING NEWS
  • Tech
  • Entertainment
  • Lifestyle
  • Education

© 2022 ValidViewNetwork - Website Developed by HaybeeMultimedia.

No Result
View All Result

© 2022 ValidViewNetwork - Website Developed by HaybeeMultimedia.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist