JPMorgan Is Scapegoating Her With Its Fraud Suit, Frank Founder Says
- Charlie Javice’s lawyers say bank smeared her in fraud suit
- JPMorgan accused Javice of faking frank customer information
JPMorgan Chase & Co. offices in New York.
Photographer: Daniel Tepper/BloombergThis article is for subscribers only.
JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon pushed to acquire college-loan-planning site Frank out of fear that another bank was eyeing the company, its founder said.
Frank founder Charlie Javice made the allegation about Dimon on Monday in her formal response to JPMorgan’s suit claiming that she defrauded the bank in the $175 million acquisition. According to JPMorgan, she created fake user data to vastly inflate the number of people supposedly using her site.