Zero Hedge
The 30-year-old founder of a college financial planning website accused of fabricating nearly 4 million user accounts before selling it to JPMorgan for $175 million has been charged with fraud.
Founded in 2016 by CEO Charlie Javice, the company, ‘Frank,’ offered software to help young Americans obtain financial aid in what Javice framed as “an Amazon for higher education,” and had the backing of billionaire Marc Rowan – the company’s lead investor. JPMorgan touted the Sept. 2021 deal as giving it the “fastest-growing college financial planning platform” used by over 5 million students at 6,000 institutions. More
And believe me, They will find a way to make it back off of all the Real Students.
(ESG) Ethical Investing MY ASS!
Does anyone here thing JP Morgan is really THAT stupid? What likely happened is that people in JP Morgan ripped-off their own company by going into a conspiracy with this woman, and buying her bullshit company. Anyone doubt me?
As I recall, with Silicone Valley Bank (and with so many others, Solyndra) the bonuses were all paid, and THEN it went bankrupt.
Which is the fraud? 4 mil students or the college education?
$174 Million??? Chump change.
Charlie Javice will not be prosecuted, he will be working in the Pentagon (Under DOD contract) where $$ Billions are stolen from Taxpayers and no one bats an eye.