Charlie Javice, founder of a startup claiming to streamline college financial aid applications, was convicted of defrauding JPMorgan Chase of $175 million. Comparisons have been made to Elizabeth Holmes of Theranos. Javice exaggerated her customer base, promising fast aid for fees. Despite Javice’s claims of millions of clients, the actual number was only around 300,000, and her evidence was fake. Defense argues JPMorgan is fabricating the allegations due to regret about the deal. Javice faces prison and tensions over an ankle monitor due to a Pilates teaching career. Javice is one of many tech execs who have faced controversy for fraudulent activities.
https://apnews.com/article/charlie-javice-convicted-fraud-jp-morgan-783cb7b089f6ab5d814c4c0984f0302b