A Florida woman is currently on trial for criminal charges related to an alleged fraud scheme involving a $175 million buyout deal with JPMorgan Chase & Co. The woman, backed by wealthy advisers, founded a company aimed at simplifying the financial aid application process for college students.
The prosecution claims that the woman misrepresented the number of customers her company had, inflating the figures to secure the buyout deal. According to Assistant U.S. Attorney Rushmi Bhaskaran, the defendant's actions amounted to a 'massive fraud' as she allegedly provided false information to JPMorgan.
