SEC charges founder of financial aid startup Frank with defrauding JPMorgan

The U.S. Securities and Exchange Commission has charged Charlie Javice, the founder of student financial aid startup Frank, with fraud in connection with the $175 million sale of the company to JPMorgan Chase Bank in 2021. 
JPMorgan filed a lawsuit against Javice in December, alleging that she had helped “fake millions of customers in order to induce the bank to buy her company.” That charge is the root of the SEC’s complaint today, which charges that Javice “made numerous misrepresentations” about Frank’s purported millions of users to entice JPMorgan.
The complaint alleges that as talks betw

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