The Frank student aid startup founder is guilty of defrauding JPMorgan. The max sentence is 30 years in prison.

Entrepreneur Charlie Javice was convicted on Friday of defrauding JPMorgan Chase into buying her college financial aid startup Frank for $175 million in July 2021.

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.

Javice remains free pending sentencing in a $175M fraud against JPMorgan. Her lawyer says an ankle monitor would make teaching pilates "impossible."

Charlie Javice, founder of a startup purchased by JPMorgan Chase in 2021, was convicted in federal court Friday of defrauding the bank by vastly overstating the company's customer list. The jury decision comes after weeks of testimony in New York over who was to blame for the flameout of a once-promising startup.

Javice, 32, was found guilty on multiple counts after prosecutors successfully argued that she fabricated data to falsely inflate Frank’s user base.

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

Prosecutors accused Javice of artificially inflating the customer list of her financial aid startup before selling it to JPMorgan.