JPMorgan Chase is one step closer to deposing Charlie Javice, the millennial founder who allegedly used fake data to fool the bank into buying her startup for $175 million.
JPMorgan Chase has been unable to question Javice, the former CEO of financial aid startup Frank. In December, the bank sued the entrepreneur, and Olivier Amar, Frank’s chief growth officer, claiming that the executives committed securities fraud when they sold Frank to JPMorgan Chase in September 2021. The bank alleges that Javice hired an unnamed data scientist to create fake data that she used to trick JPMorgan into believing Frank had 4.25 million customers. Frank, in reality, had about 300,000. (Javice has continually maintained her innocence and has said the bank knew exactly what it was buying.)
