A top executive at a startup company that helped college students apply for financial aid has been sentenced to over five years in prison for cheating JPMorgan Chase in a $175 million buyout four years ago.
The 33-year-old founder of the startup student financial aid company Frank has been sentenced to more than seven years in prison.
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.