Charlie Javice’s high-profile fraud trial has become a display of embarrassing mistakes on both sides, and details how JPMorgan Chase allegedly deceived JPMorgan Chase for $175 million, with only 300,000 customers, instead of 4 million.
Every new WSJ Articlesa crucial moment came, and former Frank engineer Patrick Vovor testified that he rejected Javice’s request to create fake user data the week before the sale, recalling her saying to him, “Don’t worry. I don’t want to end up wearing an orange jumpsuit.” When Vovor refused, Javice allegedly turned to a math professor to generate synthetic user data and then submitted it to JPMorgan. (In court, Javice’s legal team portrayed Vovor as a ridiculed suitor.)
In addition to JPMorgan’s failure to properly review Frank’s user base, other uncomfortable details have surfaced, including Leslie Wims Morris, who led the deal at JPMorgan, sent a note to her team and pointed to CEO Jamie Dimon’s annual letter to investors in 20211, adding “sometimes needed analysis” to it, which is the analysis of “sometimes needed.”
Javice’s lawyer said in court that it proved that JPMorgan didn’t think it needed to check its work, but Morris testified that it was ridiculous and wrote it “joking with my team.”
