Overview

• U.S. District Judge Alvin Hellerstein sentenced Javice to 85 months in prison, followed by three years of supervised release, with restitution and forfeiture to be imposed.
• Javice, 33, was convicted in March of bank, wire, and securities fraud as well as conspiracy; she is expected to appeal and recently added appellate lawyer Alexandra Shapiro.
• Prosecutors sought a 12-year term and $300 million in restitution, arguing JPMorgan bought a company whose supposed millions of student relationships were illusory.
• Evidence showed Frank had fewer than about 300,000 real users despite claims exceeding 4 million, including a synthetic dataset created after an employee refused to falsify records.
• Olivier Amar, Frank’s former chief growth officer convicted on the same counts, is scheduled to be sentenced on October 20.