Student aid startup founder arrested on fraud charges

Charlie Javice, the founder of Frank, a student loan assistance startup that JP Morgan Chase acquired two years ago, has been arrested on charges of duping the financial institution by inflating the number of customers her company had, authorities said. Javice faces conspiracy, wire and bank fraud charges for claiming her firm had over four million users when it had fewer than 300,000, according to a charging document in Manhattan federal court.

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