INSIDER
The founder of a startup company that claimed to be revolutionizing the way college students apply for financial aid has been convicted of defrauding JPMorgan Chase out of $175 million.
A prosecutor says a Florida woman engaged in a “brazen fraud” by selling her student aid startup to JPMorgan Chase & Co. for $175 million after dramatically exaggerating its customer base.
A woman backed by wealthy advisers who built a company to make it easier for college students to apply for financial aid has gone on trial on criminal charges that she defrauded JPMorgan Chase & Co. in a $175 million buyout.
The founder of student aid startup Frank shook her head repeatedly as a prosecutor claimed she tricked J.
With an indictment and a not-guilty plea, the fraud case against the founder of a student loan assistance startup company that J.P. Morgan Chase acquired for $175 million two years ago took a step toward trial on Monday in a New York court.
A startup founder who lives in Miami Beach could face decades behind bars for orchestrating a $175 million fraud when selling her company, federal prosecutors said Tuesday.
