JP Morgan Says Startup Founder Used Millions of Fake Customers to Dupe It into An Acquisition

JPMorgan Chase is suing Charlie Javice, the former CEO of Frank, for allegedly lying about its scale and success by creating a list of fake users to entice the financial giant to buy it. The lawsuit claims that Javice pitched JP Morgan in 2021 on the lie that more than 4 million users had signed up to use Frank’s tools to apply for federal aid. When asked for proof, a fake list was provided.

 

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Post By Ken Shafton (2,365 Posts)