Charlie Javice Indicted for $175 Million Frank Fraud

Frank was a financial services application which made it easier for students to fill out the FAFSA. Last year JPMorgan Chase filed a lawsuit against Charlie Javice, the founder of Frank alleging that she had misrepresented the number of users and suing her for fraud. Charlie Javice has now had an opportunity to file her counterclaim and argue about why her actions were not fraud. After the claim and counterclaim was filed Charlie Javice ended up indicted in the Southern District of New York for wire fraud and bank fraud charges.