Charlie Gavis was sentenced to more than 7 years in prison for fraud

Charlie Gavis, Founder Student loan startup On Monday, Frank was sentenced to more than seven years in prison for cheating on JPMorgan Chase from millions by amplifying user data.

Prosecutors said that Javis, 33, kidnapped Jpmorgan Chase to buy her company by exaggerating the numbers of her students, which led to a march Belief The bank, securities, wire fraud, as well as conspiracy fees.

American boycott judge Alvin Hilshen in Manhattan Federal Court The prison sentence was issued for 85 months, followed by three years of the supervision release.

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Javice must also deliver more than $ 22 million of salaries, shares, and bonuses associated with selling its company of $ 175 million, and jointly pay 287.5 million dollars as compensation with the co -defendant, Olivier Omar, chief growth official in Frank.

Founded in 2017 when Javice was in her mid -twenties, Frank was upgraded as a tool to simplify federal financial aid for students and parents. The platform was a revolution in the way university students are applied.

It gained the start of attention and fell Javice on the Forbes ’30 Under 30 “menu with attracted JPMorgan’s attention.

In 2021, the banking giant accused Frank for $ 175 million, as CEO Jimmy Damon met Gavis personally while negotiating the purchase.

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But the prosecutors said that the work was built on lies, because although the Florida -based Gavis claimed that Frank had more than 4 million active users, the real number was closer to 300,000.

To support her claims, it was claimed that Javis worked with a university professor to manufacture user data and bought names of commercial data brokers.

When Jpmorgan tried to contact the supposed Frank’s customer base after acquisition, lies were revealed.

Prosecutors argued that the bank “gained a theater of crime.” Dimon described JPMorgan later the purchase as a “big mistake”.

Javis told the court on the ruling on the ruling: “He accepted the ruling of the jury and assumes full responsibility.”

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Its defense team argued that it made a terrible but isolated mistake, pointing to its history of good deeds and fertility conflicts in the hope of leniency.

“Your crimes require a great deal of duality. You are a good person who has done good. But others need to deter,” said Judge Helce.

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Javis, a graduate of Warton College of Business at the University of Pennsylvania, plans to resume it Belief But it will be asked to report the prison as soon as the operation is over.

Fox News Digital communicated with the Charlie Gavis legal team for comment.