by Matthew Russell Lee, Patreon Book Substack
SDNY COURTHOUSE, May 18 – JPMorgan Chase bought a start-up called Frank, which claimed to have 4 million students signed up to file their FAFSA forms, for $175 million. Then Chase learned Frank had only 300,000 customers.
On April 4, 2023, Frank founder Ms. Charlie Javice was brought before U.S. District Court for the Southern District of New York Magistrate Judge Barbara C. Moses, represented by Quinn Emanuel.
The complaint quotes Javice messages with the engineers she hired to create the false data, and to enter in data she bought on the open market. To one of them, she is quoted, "We don't want to end up in orange jumpsuits."
In the tri-state, it is Westchester County Department of Corrections in Valhalla that dresses its inmates in orange. MDC Brooklyn uses beige; Essex County Corrections Facility in New Jersey uses yellow.
In any event, white collar defendant Javice, who took on an appropriately or strategically contrite look on Worth Street still barricaded for the nearby state court arraignment of former President Donald Trump, was freed on $2 million bond, travel restricted to SDNY and EDNY and the Southern District of Florida, where she lives.
On May 18, Javice was indicted on bank, wire and securities fraud counts, and the case assigned to District Judge Alvin K. Hellerstein.
Inner City Press will stay on this case - and other JPMC cases, including the Jeffrey Epstein-related case against Chase in which CEO Dimon must give discovery.
This case is US v. Javice, 23-cr-251 (Hellerstein)
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