Charlie Javice Convicted of Defrauding JPMorgan Over Deal

Charlie Javice was found guilty of defrauding JPMorgan Chase & Co. in its $175 million acquisition of her student-finance startup, Frank, following a six-week trial.

A Manhattan federal court jury delivered its verdict Friday against Javice, 32, finding that the onetime entrepreneur lied and faked user data to convince the nation’s largest bank that her site had more than 4.25 million users when it actually had fewer than 300,000. The jurors deliberated for about six hours before reaching their decision.