In a response to JP Morgan’s federal fraud complaint in U.S. District Court in Delaware, the 30-year-old founder said the bank had full knowledge of Frank’s customer data before the acquisition—and Chairman Jamie Dimon personally pushed for it to happen.
Frank founder Charlie Javice on Monday denied allegations from JP Morgan that she had lied about the scale and success of her student financial aid startup to con the bank into buying it for $175 million. In a response to the bank’s complaint, filed in U.S. District Court in Delaware, she said she was clear about the size of Frank’s customer base, and that there was interest from the highest levels of the financial firm—including from CEO Jamie Dimon himself—in seeing the deal through.
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