Federal prosecutors convinced a jury that Ms. Javice, along with one of her executives, had faked much of her customer list before selling her start-up, Frank, to the bank.

Charlie Javice, founder of Frank, a financial aid startup, has been convicted of defrauding JPMorgan Chase out of $175 million.

Javice sold her student-aid startup, Frank, to JPMorgan in 2021. Two years later, the bank accused her of creating fake profiles to boost the number of customers.