JPMorgan vs. Frank Explained

Today we are looking at the lawsuit between Frank and JP Morgan. In this video, we will look at how JPMorgan paid $175 million for a company that effectively 90% had fake emails.

On Thursday the website of Frank was shutdown.

Frank was founded by Charlie Javice in 2016, working on the premise of providing software to help young Americans seeking financial aid with their student loan applications. According to Crunchbase, billionaire Marc Rowan is Frank’s lead investor, and the business has received backing from renowned venture funds such as Aleph, Chegg, Reach Capital, Gingerbread Capital, and SWAT Equity Partners.

Javice then approached JPMorgan in mid-2021 about a potential sale, suitably fitting for Chase which then targeted to increase its client network with college students. According to the bank’s complaint filed late last year against the Frank founder, Javice claimed in her pitch that over 4 million people had signed up to use Frank’s tools to qualify for federal financial assistance.

#JPMORGAN #Frankvsjpmorgan #frank
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[danieljacales]

Forbes should launch a section of Forbes' portraits fraud cases.

[joecole-]

Seems like the whole thing is a Craigslist transaction

[richiecramiun]

And we complain about Nigerian scam emails 😅😅😅😅😅

[alexwagner]

“Greed makes people blind.” This type of fraud exposes the fragility and raises the alarm about scams in financial institutions.

[myrat.]

For the integrity of the stock market and the American business economy anyone caught willfully and intentionally committing fraud should be prosecuted by the full extent of the law. Just ethically speaking.

[Missy]

I know the owners of Frank. This is just such a scam what everyone involved with Frank did … and so sad

[magikindian]

In our 35 plus years in busniess, we have learned to stay away from American providers. There is always some kind of issue and they are seldom resolved without raising suspicion. Not all are bad players but time is money and therefore we use American suppliers as a last resort.

[raygarcia]

Charlie will most definitely wear orange. She already admitted how she wanted to create synthetic data on the company server, which JPM owns and figured out as listed in the lawsuit. I'm surprised the lawyer has taken on this case. It will be a tough one to disprove the emails we're false.

[ShibaHamamatsucho]

Nice Video. Do you have a link to the filing?

[cokebottles]

I think JP Morgan should pay the 175 mil and Charlie should go to jail... or vice versa, either way is fine

[deSeriosa]

Can someone drop the name of the NY Data Science professor that helped her?

[Lita-xo]

So we just going to skip over the selling of emails

[maxpayne]

Why do you play the annoying music in the background. I couldn’t get through your video because of it.

[jroc]

JP morgan should have to eat the 175 milli, but also Charlie really should pay for being reckless using a company email. Your absolutely correct, you only see foolish fast decisions like this in a bubble. Thanks for the video

[robl]

Young Fraudster vs. Wall Street Fraudster. Guess Chase can smell their own kind.

[Monaleenian]

Charlie Javice, Sam Bankman-Fried, Bernie Madoff

[endgamefond]

The CEO smile n confident who wouldn't trust her

[royed]

stopped listening because of annoying background music

[jpandyaraja]

nothing surprises me about the dumbness of US banks...i have seen them in action a number of times doing these kind of things

[DieselDoggy]

If I was her I would already be in africa