Millennial Allegedly Defrauds $175 Million From JP Morgan Chase

On Monday, authorities apprehended and indicted Charlie Javice, the ex-CEO of a student loan startup, for allegedly misrepresenting her company's size in a $175 million fraud case. Javice, aged 31, faces charges of conspiracy to commit bank and wire fraud, one count of bank fraud, one count of wire fraud, and securities fraud for purportedly inflating the customer base of her startup, Frank, as stated by the Justice Department. She is accused of exaggerating customer numbers in an attempt to convince J.P. Morgan Chase (JPMC) to acquire her company for $175 million, from which she would have profited $45 million through fraudulent means.