Overview

• U.S. District Judge Alvin Hellerstein imposed 85 months in prison and three years of supervised release, with Javice remaining free during her appeal.
• Javice, 33, was found guilty in March of bank, securities and wire fraud and conspiracy tied to JPMorgan’s 2021 acquisition of her startup.
• Prosecutors said she claimed over 4 million customers when about 300,000 were real, using an outside data scientist to generate synthetic records.
• The court ordered $309,862,055 in restitution after prosecutors sought a 12-year term, as the judge said fraud must be punished despite JPMorgan’s poor due diligence.
• Co-defendant Olivier Amar, Frank’s former chief growth officer, was also convicted and is scheduled for sentencing on Oct. 20.