There’s a new Elizabeth Holmes on the block and apparently JP Morgan Chase is out to get her. According to lawsuit documents, Charlie Javice, 30, is being sued by the bank who claims she falsely claimed to have more than 4m students for a so-called education service start-up. The problem is that none of the so-called students actually existed and now JP Morgan Chase is trying to reverse the sale. The bank purchased Javice ‘s company in 2021 for a whopping $175m.
Javice reportedly started the company in 2019 at the age of 24 according to research about the young woman available on the internet.
As a whole Javice ‘s company is known as ‘Frank’ and was once called the ‘Amazon of higher education’ before Javice ‘s alleged lies and fallacies began to unravel. One report suggests that her lies began to unravel when an employee she approached refused to doctor a list of fake customers but she then allegedly paid a data scientist $18,000 to do it instead. The Mail also claims that Javice may have done this on more than one occasion.
According to the Wall Street Journal, the scam further began to unravel after the bank itself tried to e-mail some of the alleged 4.2m student ‘customers’ but quickly found that many of the e-mails actually bounced. It is unclear how many attempted contacts were actually made but nonetheless red alarms were set off at the bank.
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