Charlie Javice, 30, who has managed to find herself in a heated legal showdown with JP Morgan Chase is like others the latest person to enter the scam arena. Back in 2021, reports emerged that Javice’s entire company at least the size of it (that she claimed in investor documents) was an entirely well-orchestrated scam. Those reports emerged after JP Morgan paid more than $175m for the company only to later find out that much of the data that came with it had been fabricated by a reported data scientist.
The company is called Frank which is an education start up that had been operating online prior to the bank’s acquisition.
Early on, reports suggested that the rouse fell apart after JP Morgan Chase attempted to send out a test marketing blast to the newly acquired so-called customers via e-mail. However, upon doing so only a meagre 28% of all e-mails were actually delivered to customers. The bank then went on an investigative journey of its own and ended up accusing Javice of faking the list, to begin with.
Javice was let go last November and sued in court the following month in Delaware. Now it has emerged that in court documents, Jamie Dixon the banks’ top brass allegedly knew the real size of the company from the start and is trying to supposedly blame her for a strategy that simply didn’t work.
Ms Javice and another executive at the company, Olivier Amar, allegedly paid a random data scientist $18,000 to create the list of fake customers to inflate Frank’s true size according to the same court documents.
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