Charlie Javice

Javice grew up in Westchester County, New York.{{Cite news |url=https://www.forbes.com/sites/alexandralevine/2023/01/19/charlie-javice-jp-morgan-frank-lawsuit/ |title='Fake It 'Til You Make It': Meet Charlie Javice, The Startup Founder Who Fooled JP Morgan |first1=Alexandra S. |last1=Levine |first2=Iain |last2=Martin |work=Forbes |date=January 19, 2023 |url-access=limited |access-date=January 20, 2023 |archive-date=January 20, 2023 |archive-url=https://web.archive.org/web/20230120160838/https://www.forbes.com/sites/alexandralevine/2023/01/19/charlie-javice-jp-morgan-frank-lawsuit/ |url-status=live }} She is Jewish.{{Cite web |last=Siegal |first=Tobias |date=January 21, 2023 |title=Young entrepreneur accused of conning America's largest bank out of $175m |url=https://www.timesofisrael.com/young-jewish-entrepreneur-accused-of-conning-americas-largest-bank/amp/ |archive-url=https://archive.today/20230122224521/https://www.timesofisrael.com/young-jewish-entrepreneur-accused-of-conning-americas-largest-bank/amp/ |archive-date=January 22, 2023 |access-date=December 20, 2023 |website=The Times of Israel}} Her father worked at a hedge fund while her mother is a life coach and former teacher.{{cite news |title=Charlie and Elie Javice |url=https://www.bizjournals.com/philadelphia/print-edition/2011/12/30/charlie-and-elie-javice.html |access-date=June 18, 2024 |work=Philadelphia Business Journal |date=December 30, 2011 |archive-url=http://web.archive.org/web/20120316094225/http://www.bizjournals.com/philadelphia/print-edition/2011/12/30/charlie-and-elie-javice.html |archive-date=March 16, 2012}} Javice attended the French-American School of New York, a private school that provides education from age 3 to the 12th grade.

In 2013, Javice graduated from the Wharton School of the University of Pennsylvania after three years with a bachelor's degree in finance and legal studies.{{cite web |title=Wharton graduate, startup founder Charlie Javice sued by JP Morgan |url=https://www.thedp.com/article/2023/01/charlie-javice-wharton-graduate-frank-sued-jp-morgan |first=Meheer |last=Commuri |work=The Daily Pennsylvanian |date=January 16, 2023 |access-date=January 20, 2023 |archive-date=January 20, 2023 |archive-url=https://web.archive.org/web/20230120160843/https://www.thedp.com/article/2023/01/charlie-javice-wharton-graduate-frank-sued-jp-morgan |url-status=live }} As a freshman at Wharton, she founded PoverUp, an online platform to help students learn more about starting micro-finance clubs. During her sophomore year, she became a member of the Board of Overseers for the University of Pennsylvania Hillel organization, associated with Hillel International,{{Cite web |last=Drake |first=Diane |date=July 20, 2011 |title=Generation Microfinance: Charlie Javice Believes in the Power of Students to Alleviate Poverty |url=https://globalyouth.wharton.upenn.edu/articles/videos/generation-microfinance-charlie-javice-believes-in-the-power-of-students-to-alleviate-poverty/ |access-date=April 18, 2023 |website=Wharton Global Youth Program |archive-date=April 18, 2023 |archive-url=https://web.archive.org/web/20230418213015/https://globalyouth.wharton.upenn.edu/articles/videos/generation-microfinance-charlie-javice-believes-in-the-power-of-students-to-alleviate-poverty/ |url-status=live }} a Jewish campus organization. She continued in this capacity until 2015.

In 2016, Javice founded Frank, which assists student borrowers in obtaining loans and financial aid.

In 2017, the United States Department of Education accused Frank of potentially misleading customers to believe it was affiliated with the US government, forcing the company to change its website from frankfafsa.com to frank.com. Frank settled with the Department of Education in 2018.{{Cite news |url=https://www.businessinsider.com/charlie-javice-frank-jpmorgan-settlement-department-education-2018-2023-1 |title=Frank Start-Up Founder Charlie Javice, Accused of Defrauding JPMorgan with Fake Users, Previously Settled with Department of Education over Allegations She Misled Students |last=Long |first=Katherine |work=Business Insider |date=January 12, 2023 |access-date=April 12, 2023 |archive-date=April 12, 2023 |archive-url=https://web.archive.org/web/20230412072759/https://www.businessinsider.com/charlie-javice-frank-jpmorgan-settlement-department-education-2018-2023-1 |url-status=live }}

In 2018, Javice was sued by Adi Omesy, a co-founder of Frank, over wage theft in Israel.{{Cite news |last=Siegal |first=Tobias |date=January 23, 2023 |title=Young entrepreneur accused of conning America's largest bank out of $175m |work=The Times of Israel |url=https://www.timesofisrael.com/young-jewish-entrepreneur-accused-of-conning-americas-largest-bank/ |access-date=April 5, 2023 |archive-date=April 5, 2023 |archive-url=https://web.archive.org/web/20230405170214/https://www.timesofisrael.com/young-jewish-entrepreneur-accused-of-conning-americas-largest-bank/ |url-status=live }} In 2021, she was ordered to pay $35,000.

In September 2021, she sold the company to JPMorgan Chase for $175 million and was appointed managing director at JPMorgan, overseeing student-focused products at Chase. She was suspended in September 2022 following a lawsuit by her employer and was terminated for cause in November 2022.

In November 2022, Javice was listed on Forbes 30 Under 30,{{Cite web |title=Forbes 30 Under 30 2022: Finance |url=https://www.forbes.com/30-under-30/2022/finance/ |access-date=January 30, 2024 |website=Forbes }} a pick the publication regretted a year later, placing Javice on its Hall of Shame, featuring ten picks it wished it could take back.{{Cite web |title=Hall Of Shame: The 10 Most Dubious People Ever To Make Our 30 Under 30 List |url=https://www.forbes.com/sites/forbesunder30team/2023/11/28/hall-of-shame-the-10-most-dubious-people-ever-to-make-our-30-under-30-list/ |website=Forbes |access-date=January 30, 2024 }}{{Cite web |last=Porter |first=Jon |date=November 29, 2023 |title=Forbes publishes 30 Under 30 "Hall of Shame." |url=https://www.theverge.com/2023/11/29/23980764/forbes-publishes-30-under-30-hall-of-shame |access-date=January 30, 2024 |website=The Verge}}

In 2022, JPMorgan filed a lawsuit for fraud, claiming that the data reported by Frank was largely a fabrication and alleged that Javice paid a data science professor $18,000 for a list of more than four million fake student names to convince JPMorgan to purchase Frank.{{cite news |url=https://www.cbsnews.com/news/charlie-javice-frank-jpmorgan-chase-lawsuit-alleges-4-million-fake-customers/ |title=JPMorgan paid $175 million for a hot startup. Now it claims its CEO faked four million clients. |first=Aimee |last=Picchi |work=CBS News |date=January 13, 2023 |access-date=January 20, 2023 |archive-date=January 20, 2023 |archive-url=https://web.archive.org/web/20230120160830/https://www.cbsnews.com/news/charlie-javice-frank-jpmorgan-chase-lawsuit-alleges-4-million-fake-customers/ |url-status=live }}{{cite news |title=JPMorgan shutters website it paid $175 million for, accuses founder of inventing millions of accounts |url=https://www.cnbc.com/2023/01/12/jpmorgan-chase-shutters-student-financial-aid-website-frank.html |first=Hugh |last=Son |work=CNBC |date=January 12, 2023 |access-date=January 20, 2023 |archive-date=January 20, 2023 |archive-url=https://web.archive.org/web/20230120211652/https://www.cnbc.com/2023/01/12/jpmorgan-chase-shutters-student-financial-aid-website-frank.html |url-status=live }} Javice countersued JPMorgan, claiming that she was being scapegoated for their own faulty due diligence.{{cite news |title=JPMorgan Is Scapegoating Her With Its Fraud Suit, Frank Founder Says|url=https://www.bloomberg.com/news/articles/2023-02-27/jpmorgan-s-frank-fraud-suit-is-massive-cya-founder-claims |work=Bloomberg News |last=Feeley |first=Jef |date=February 27, 2023}} On April 4, 2023, federal prosecutors in Manhattan charged Javice with wire fraud affecting a financial institution, securities fraud, bank fraud and conspiracy.{{cite web |title=Frank founder Charlie Javice, who allegedly defrauded JPMorgan out of $175 million, hit with federal charges |url=https://www.businessinsider.com/charlie-javice-frank-criminal-charges-financial-fraud-jpmorgan-chase-2023-1 |first1=Katherine |last1=Long |first2=Jack |last2=Newsham |work=Business Insider |date=April 4, 2023 |access-date=April 4, 2023 |archive-date=April 4, 2023 |archive-url=https://web.archive.org/web/20230404152927/https://www.businessinsider.com/charlie-javice-frank-criminal-charges-financial-fraud-jpmorgan-chase-2023-1 |url-status=live }} The same day, she was also charged with fraud by the U.S. Securities and Exchange Commission.{{cite news |title=SEC And DOJ Charge Frank Founder Charlie Javice With Fraud |url=https://www.forbes.com/sites/alexandralevine/2023/04/04/sec-doj-sdny-charge-frank-founder-charlie-javice-arrested/ |last1=Levine |first1=Alexandra S. |last2=Martin |first2=Iain |work=Forbes |date=April 4, 2023 |url-access=limited |access-date=April 4, 2023 |archive-date=April 4, 2023 |archive-url=https://web.archive.org/web/20230404162314/https://www.forbes.com/sites/alexandralevine/2023/04/04/sec-doj-sdny-charge-frank-founder-charlie-javice-arrested/ |url-status=live }} She was released on a two million dollar bond, on condition that she surrender her passports and restrict her travel to New York City and southern Florida, and agreeing not to contact witnesses who are involved in the case.{{cite news |url=https://apnews.com/article/frank-javice-fraud-schools-f6058d4e84354456af44714f3828d592 |title=Student aid startup founder arrested on fraud charges |work=Associated Press |last=Neumeister |first=Larry |date=April 4, 2023 |access-date=April 5, 2023 |archive-date=April 5, 2023 |archive-url=https://web.archive.org/web/20230405055941/https://apnews.com/article/frank-javice-fraud-schools-f6058d4e84354456af44714f3828d592 |url-status=live }}{{cite news |last1=Van Voris |first1=Bob |last2=Dolmetsch |first2=Chris |title=Frank Founder Javice, Who Says JPMorgan Scapegoated Her, Is Charged With Fraud |url=https://www.bloomberg.com/news/articles/2023-04-04/frank-founder-javice-sued-by-sec-for-defrauding-jpmorgan |work=Bloomberg News |date=April 4, 2023 |access-date=April 5, 2023 |archive-date=April 4, 2023 |archive-url=https://web.archive.org/web/20230404223029/https://www.bloomberg.com/news/articles/2023-04-04/frank-founder-javice-sued-by-sec-for-defrauding-jpmorgan |url-status=live }}

A four-count grand jury indictment made public on May 18, 2023, in Manhattan federal court charged Javice with securities fraud, wire fraud, bank fraud, and conspiracy.

Javice's trial began in February 2025.{{cite news |last1=Van Voris |first1=Bob |last2=Lu |first2=Jazper |title=JPMorgan, Charlie Javice Both Accused of Lying as Fraud Trial Begins |date=February 20, 2025 |url=https://www.bloomberg.com/news/articles/2025-02-20/jpmorgan-was-victim-of-javice-lies-us-says-as-fraud-trial-opens |publisher= Bloomberg News}} Javice was convicted of defrauding JPMorgan Chase on March 28, 2025.{{ cite news | url=https://apnews.com/article/charlie-javice-convicted-fraud-jp-morgan-783cb7b089f6ab5d814c4c0984f0302b | title=Charlie Javice convicted of defrauding JPMorgan during $175 million sale of financial aid startup | last1=Sisak | first1=Michael | last2=Neumeister | first2=Larry | date=2025-03-28 | quote=Javice and Amar, Frank’s chief growth and acquisition officer and effectively its No. 2, were convicted on all four counts in their indictments, including conspiracy, bank fraud and wire fraud charges that are each punishable by up to 30 years in prison.}} {{ cite news | url=https://www.nytimes.com/2025/03/28/business/charlie-javice-jpmorgan-guilty.html | title=Charlie Javice Found Guilty of Defrauding JPMorgan of $175 Million | last=Lieber | first=Ron | newspaper=New York Times | date=2025-03-28 | quote=One striking bit of testimony came from Adam Kapelner, an associate professor of mathematics at Queens College, part of the City University of New York. As JPMorgan was performing due diligence, Ms. Javice told him she was in an “urgent pinch” and asked him to use “synthetic data” to create a list of over four million customers from a Frank list she supplied, which had fewer than 300,000 people on it. He asked why, according to his testimony, but she would not tell him. “I found my genius,” she said in a text to Mr. Amar at the time. After Professor Kapelner did some quick work — including pulling an all-nighter — Ms. Javice asked him to remove any specifics about the data from his invoice and paid him $18,000 instead of the $13,300 on his original bill. }}

• 2011: Ranked 99th on list of Most Creative People by Fast Company{{cite web |url=https://www.fastcompany.com/3018504/99-charlie-javice |title=99. Charlie Javice |work=Fast Company |date=May 18, 2011 |access-date=April 5, 2023 |archive-date=April 5, 2023 |archive-url=https://web.archive.org/web/20230405170214/https://www.fastcompany.com/3018504/99-charlie-javice |url-status=live }}
• 2019: Named in Forbes 30 Under 30 – Finance{{cite web |title=Charlie Javice |url=https://www.forbes.com/profile/charlie-javice/ |work=Forbes |access-date=January 20, 2023 |archive-date=January 20, 2023 |archive-url=https://web.archive.org/web/20230120160836/https://www.forbes.com/profile/charlie-javice/ |url-status=live }}
• 2019: Named in Crain's New York Business 40 Under 40{{cite web |url=https://www.crainsnewyork.com/awards/40-under-40-2019-charlie-javice |title=40 Under 40 - Charlie Javice |date=March 19, 2019 |access-date=January 24, 2023 |archive-date=January 24, 2023 |archive-url=https://web.archive.org/web/20230124203021/https://www.crainsnewyork.com/awards/40-under-40-2019-charlie-javice |url-status=live }}
• 2023: Named in Forbes 30 Under 30 Hall of Shame{{cite web |url=https://www.theverge.com/2023/11/29/23980764/forbes-publishes-30-under-30-hall-of-shame |title= Forbes publishes 30 Under 30 "Hall of Shame." |date=November 29, 2023}}

Javice lives in Miami. She is a dual citizen of the US and France.

• Elizabeth Holmes
• Theranos

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