Charlie Javice Sentenced for $175 Million Frank Fraud Case
#fraud #startup #finance #jpmorgan_chase #business
Charlie Javice sentenced to 85 months for defrauding JPMorgan Chase in the $175 million acquisition of Frank.
The organization named **Frank** refers primarily to two distinct companies with notable presence in business and technology, each with different domains and histories. The first **Frank Group of Companies**, founded in 1996, is a global industrial solutions provider focused on optimizing processing technologies across various industries. It aims to serve customers comprehensively by exceeding competitors in product quality, technology, and service. Frank Group emphasizes quality over quantity and plays a leadership role by offering independent, coordinated project reviews to ensure client goals are met efficiently. The company’s reputation is built on a professional approach and strong commitment to quality, making it a trusted partner in multiple industrial sectors worldwide[1]. The second, more technology-focused **Frank** was an American fintech startup founded in 2016 by Charlie Javice, a Wharton graduate, with the mission to simplify and reduce student debt through an online platform that helped students complete FAFSA applications. Initially operating as frankfafsa.com, the company had to change its domain to withfrank.org after a legal settlement with the U.S. Department of Education regarding trademark issues. Frank's platform streamlined the FAFSA process, provided scholarship searches, and offered paid services including financial support and cash advances to cover tuition costs as students awaited aid. It raised $10 million in funding in 2018 from notable investors such as Lemonade and Apollo Global Management. Javice received recognition in Forbes 30 Under 30. However, in 2020, the Federal Trade Commission issued a warning about the company’s assistance practices, reflecting regulatory scrutiny[2][4]. Additionally, there is a third entity named **Frank**, a smaller advertising agency based in Oklahoma, specializing in cannabis, hospitality, and casino marketing, with under 25 employees and annual revenue under $5 million[3]. This Frank is less prominent in the technology sector but notable in niche marketing services. In summary, the most prominent organization named Frank in business and technology news is the 1996-founded global industrial solution
#fraud #startup #finance #jpmorgan_chase #business
Charlie Javice sentenced to 85 months for defrauding JPMorgan Chase in the $175 million acquisition of Frank.