Frank founder Charlie Javice, who allegedly defrauded JPMorgan out of $175 million, hit with federal charges

• Charlie Javice, who sold her student-aid startup Frank to JPMorgan Chase, was charged with fraud.
• The bank claimed Javice faked millions of customers to convince it to buy Frank for $175 million.
• An Insider investigation found that Javice has a pattern of exaggerating her success.

Charlie Javice, the 31-year-old founder of financial aid startup Frank, has been charged by federal prosecutors with financial fraud after JP Morgan Chase & Co. alleged in a civil suit last year that Javice had faked millions of Frank customers to convince the bank to buy her company for $175 million.