Overview

• Prosecutors filed late Monday in Manhattan federal court, arguing the scheme reflected sustained deception, obstruction and personal greed.
• Along with prison time, the government seeks $29.7 million in forfeiture and $300.9 million in restitution covering, in part, JPMorgan’s legal fees, with sentencing set for September 29.
• Javice was convicted in March of bank, securities and wire fraud and conspiracy for fabricating user data to induce JPMorgan to buy her startup Frank for about $175 million.
• Prosecutors say she claimed 4.25 million customers when the true figure was closer to 300,000, a discrepancy JPMorgan uncovered after the 2021 acquisition.
• Defense filings request no prison and no restitution, calling her conduct a lapse of judgment, while co-defendant Olivier Amar awaits sentencing on October 20 after his conviction on the same counts.