Charlie Javice Trial Exposes JPMorgan's $175M Fraud Blunder

Charlie Javice Trial Exposes JPMorgan's $175M Fraud Blunder

Charlie Javice’s high-profile fraud trial has become a showcase of embarrassing missteps on both sides, with eyebrow-raising details about how JPMorgan Chase was allegedly deceived into buying her startup, Frank, for $175 million when it had just 300,000 customers instead of four million. Image:Michael Nagle/Bloomberg / Getty Images Per a new WSJ article, one pivotal moment came when former Frank engineer Patrick Vovor testified that he refused Javice’s request to create fake user data just one week before the sale, recalling she said to him: “Don’t worry. I don’t want to end up in an orange jumpsuit.” When Vovor declined, Javice allegedly turned to a math professor to generate synthetic user data, which was then submitted to JPMorgan. (In court, Javice’s legal team painted Vovor as a scorned suitor.) In addition to JPMorgan’s failure to properly vet Frank’s user base, other uncomfortable details have been surfaced, including that Leslie Wims Morris, who led the deal at JPMorgan, reporte…