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Charlie Javice Sentenced to 7 Years for JPMorgan Fraud Tied to Frank Sale

The court found she inflated Frank’s users to induce JPMorgan’s $175 million purchase.

Overview

  • U.S. District Judge Alvin Hellerstein imposed an 85‑month prison term, followed by three years of supervised release.
  • Javice was ordered to forfeit about $22.36 million and pay roughly $287 million in restitution to JPMorgan.
  • She remains free on bail during her appeal after a March conviction on bank, securities, and wire fraud, plus conspiracy.
  • Prosecutors said she claimed more than 4 million users when Frank had fewer than 300,000, enlisting a data scientist to create synthetic records.
  • The judge criticized JPMorgan’s due diligence but emphasized deterrence, as co‑defendant Olivier Amar awaits sentencing on October 20.