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DOJ charges Frank founder with defrauding JPMorgan

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The Department of Justice has charged Charlie Javice, the founder of the now-shuttered college financial aid company Frank, with defrauding JPMorgan Chase & Co.

The Department of Justice accuses Javice of allegedly inflating the number of Frank's student customers in selling the startup to JPMorgan Chase for $175 million in 2021.

JPMorgan shut down Frank in January.

Read more from Reuters.

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