After Chase, the commercial banking arm of JPMorgan, paid $175 million for the company, it alleged much of what it thought it was paying for, close to 5 million customers with complete contact information, did not exist. JPMorgan said the company, Frank, only had 300,000 actual customers, and as such has accused Javice of fraud.
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Frank Founder Facing Lawsuit from JPMorgan for Allegedly Fabricating 4.27M Customers
Charlie Javice, who sold her college affordability fintech to JPMorgan in 2021, is now being sued by financial services giant for allegedly faking its customer base. So reports Fortune.
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