Javis has condemned JPMorgan’s fraud in buying a $ 175 million

Charlie Gavis, founder of the start of the student loan request purchased by JPMorgan for $ 175 million, was convicted on Friday by defrauding the bank by greatly amplifying the number of customers.

After a five -week trial, the jury found a guilty, agreed with prosecutors’ allegations that she was fabricated the vast majority of Frank’s customer list of JPMorgan’s deception in obtaining startup.

When JPMorgan Frank bought in 2021, the bank believed that the startup has 4 million customers. The bank discovered that the actual number of customers was only 300,000 when he later sent emails for experimental marketing to the alleged Frank users and about 70 % of these messages returned again.

He claims that Javis has rented a Professor of mathematics to create fake customer dataShe presented her to Jpmorgan when the bank was considering buying its company.

Defense lawyer argued that the lawsuit was the result of the buyer’s remorse because the government changed the way to fill in the financial aid models. Javis acknowledged that he was not guilty and did not take the situation during the trial.

Javis, who is now 32 years old, can be sentenced to decades. The ruling is expected to be issued in August, According to the CNBC report.

Javis Frank was founded in 2017 when she was in her mid -twenties. In 2019, it was named at Forbes 30 under 30 lists.