Frank Charlie Javis’s founder was sentenced to 7 years in prison for fraud on JPMorgan Chase

Charlie Gavis, founder of Financial Employment sincere and Forbes 30 under 30 graduatesHe was sentenced to seven years in prison for fraud.

Fintech started by JPMorgan Chase in 2021 for $ 175 million. The bank later accused Javis of lying about its customer base; The founder claimed that the company has 4 million customers, when it already had 300,000. It is clear that JPMorgan Chase did not do due care before agreeing to buy Frank.

During the trial, former Frank Engineer Patrick Fovor witnessed that Javis was asked to create false user data before selling; When he refused, Javis asked a professor of mathematics and data scientist Adam Capeller to help Create artificial data. Kapelner submitted a major certificate for the prosecution.

Along with the co -defendant, the chief growth official in Frank Olivier Ammar, Gavis will be responsible for paying $ 278.5 million in response.