Charlie Javice allegedly faked data to get her company acquired.
against Javice and Frank executive Olivier Amar after allegedly realizing that most of the people on the startup’s list of users were fake. According to the bank’s suit, Javice hired a data scientist to fabricate a user data set with 4.25 million students, when, in actuality, the startup had less than 300,000 real users. Javice is also accused of purchasing a data set containing 4.
5 million actual college students in an attempt to fill out Frank’s database following JPMorgan Chase’s acquisition. Javice has denied the allegations and“As alleged, Javice engaged in a brazen scheme to defraud JPMC in the course of a $175 million acquisition deal,” US Attorney Damian Williams says in a statement. “She lied directly to JPMC and fabricated data to support those lies — all in order to make over $45 million from the sale of her company.
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