The criminal trial against fintech startup founder Charlie Javice began on Friday, with lawyers making their opening arguments, Reuters reported.
Lawyers reiterate their initial claims and defense File a lawsuit JPMorgan Chase conducted a deal with Javice in December 2022. The financial services giant claims Javice helped “fake millions of customers to lure banks to buy her company” and student financial programs aid startup Frank, $175 million. That fee is also SEC Complaintthe accusation that Javice “has induced JPMorgan to “make many false statements” to Frank’s millions of users.
JPMorgan claims that it discovered so-called fraud when more than 70% of its marketing test emails Frank’s customers were bounced back.
Javice’s lawyers claim JPMorgan has done enough diligence, and the lawsuit is the result of buyers’ remorse, due to changes in the way the government fills out financial aid forms; they say the alleged fraud is to resolve the deal a way to do it.
Javice, 32, could be sentenced to years in prison if convicted of fraud and creating false data.
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