Charlie Javice, the founder of the fintech startup Frank, has been sentenced to seven years in prison for defrauding JPMorgan Chase of $175 million. The 32-year-old entrepreneur was convicted for misleading the bank during its acquisition of her company in 2021. Javice was sentenced on Monday by US District Judge Alvin Hellerstein, who noted that her actions involved significant deception but acknowledged her good character.

Javice founded Frank in 2017 to assist students with the financial aid process. However, she falsely claimed that her startup had over 4 million customers, while the actual number was fewer than 300,000. This misrepresentation was a key factor in JPMorgan's decision to purchase Frank.

After her arrest in 2023, Javice was released on a $2 million bail. She was convicted of conspiracy, wire fraud, and bank fraud in March 2025. In addition to her prison sentence, she has been ordered to forfeit $22.4 million and pay $287.5 million in restitution to JPMorgan.

Before her sentencing, Javice expressed remorse, stating, "I am deeply sorry, and I am asking with all my heart for forgiveness. If it were within my power, I would never make the same mistakes again, not for money, not for recognition, not for anything."

Javice's journey began with her education at the University of Pennsylvania's Wharton School, where she earned a degree in finance and legal studies. Her startup gained recognition, landing her a spot on Forbes' '30 Under 30' list in 2022. However, her success was overshadowed by the fraudulent activities that led to her conviction and subsequent sentencing.