Charlie Javice, founder of the digital enrollment platform, Frank, has been sentenced after a jury previously found her guilty of defrauding JP Morgan Chase bank. This complicated and high-profile case against JP Morgan Chase. On September 29, 2025, the sentencing took place in Manhattan. This marked the end of a tragic saga that began when a jury found her guilty in March on three counts of fraud and one count of conspiracy to commit fraud.
Javice founded Frank to assist students in applying for financial aid, claiming that the platform had served over 5 million users since its inception. In 2021, she sold Frank to JPMorgan Chase for $175 million, a deal that would later be investigated for improprieties.
In advance of the acquisition, Javice allegedly told her staff to pump up the company’s customer base by inventing fake customers. Employees reported being shocked at her ask, since they believed it would go against their ethical duties. Working with a data scientist, she developed synthetic identities that artificially expanded the customer base to a much larger degree. The truth is that Frank had less than 300,000 real customers.
Javice’s actions raised red flags. In 2023, she was arrested for allegedly defrauding JPMorgan Chase while trying to acquire them. Her former chief growth officer, Olivier Amar, was charged with the same crimes and found guilty of both fraud and conspiracy.
During the sentencing hearing, Javice’s attorney, Ronald Sullivan, argued that Frank had provided valuable assistance to students and that her sentence should reflect her positive contributions rather than solely her wrongdoing. At one point during the reflective portion of the testimony, Javice apologized for the pain that her actions had created.
“I will spend my entire life regretting these errors.” – Charlie Javice
In the process, she had to beg for mercy herself, from JPMorgan Chase, her workers, shareholders and investors.
“I’m asking with all of my heart for forgiveness.” – Charlie Javice
In closing, U.S. Assistant Attorney Micah Fergenson made the case that Javice had let greed get the best of her. He underscored the nature and seriousness of her offenses. This approach underscored the widespread threat that fraud posed throughout the financial industry and sounded a clarion call for accountability.
Javice’s case should be a warning to anyone contemplating making self-enriching decisions at the expense of doing what’s right. The legal consequences she experienced serve as a powerful reminder of the necessity of ethical conduct in all aspects of commerce.