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★ Forbes 30U30 2019✅ Convicted
CHARLIE JAVICE
Frank · 2023
Fabricated customer database to inflate acquisition price
Charlie Javice founded Frank, a student financial aid platform, and was named Forbes 30 Under 30 in 2019. When selling Frank to JPMorgan Chase for $175M in 2021, she fabricated the user database from ~300,000 real users to 4.25 million synthetic users. She paid a data science professor $18,000 to generate the fake records. JPMorgan filed civil suit in December 2022; federal criminal charges followed in April 2023. Javice was convicted at trial in April 2025.
Raised
$175M
Outcome
🔒 Prison
Investors
JPMorgan Chase (acquirer)Reach CapitalMarc Rowan