Startup founder Charlie Javice discovered responsible of defrauding JPMorgan Chase in $175 million offer

Charlie Javice, founding father of a startup bought via JPMorgan Chase in 2021, was once convicted in federal court docket Friday of defrauding the depot via hugely overstating the corporate’s buyer listing.

The jury determination comes later weeks of testimony in Fresh York over who was once accountable for the flameout of a once-promising startup. In its civil go well with in opposition to Javice, JPMorgan accused Javice, 32, of duping the depot into paying $175 million for a corporation that had greater than 4 million consumers, when actually it had fewer than 300,000.

Initiation in 2023, Javice confronted 4 counts from the Justice Section for crimes together with twine and depot fraud, fees which carried most sentences of 3 a long time.

A spokesperson for JPMorgan declined to remark.

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