US Judge blasts JP Morgan bankers; Labels them ‘stupid’ in Javice case
Fintech founder Charlie Javice received a seven-year prison sentence and $287.5 million restitution for defrauding JP Morgan. She sold her startup Frank for $175 million based on fabricated user data. While the judge chided JP Morgan's "stupidity" in due diligence, he stressed that fraud remains fraud, regardless of the victim's intelligence.
Fintech founder Charlie Javice received a seven-year prison sentence and $287.5 million restitution for defrauding JP Morgan. She sold her startup Frank for $175 million based on fabricated user data. While the judge chided JP Morgan's "stupidity" in due diligence, he stressed that fraud remains fraud, regardless of the victim's intelligence.
