DOJ charges 'Frank' founder Charlie Javice with four counts of fraud

Charlie Javice, the creator of the college financial planning website Frank, was accused criminally by the United Department on Tuesday with defrauding JPMorgan Chase of $175 million.

In an effort to "fraudulently entice" the bank to purchase the business in 2021, Javice, 31, is accused of "falsely and significantly" exaggerating the number of customers Frank actually had. This accusation was made by federal authorities in Manhattan. According to them, she stood to collect more than $45 million from the alleged lie.