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Forbes 30-under-30 :marseyfrozenchosen: girlboss arrested for selling company to JPMorgan for $175m pretending they had 4 million users when they only had 250k

https://www.businessinsider.com/charlie-javice-frank-fintech-startup-jp-morgan-fraud-2023-1

https://i.rdrama.net/images/16806299802045014.webp

No one noticed?

:#marseywrongthonk:

Highlights

  • "All Frank was doing was making it simpler to fill out standard federal financial aid paperwork" but she pretended it provided $28k in student loans 2x the national average

  • she filled their user database with 4 million fake emails/names

  • it took JPMorgan a year to noootice

  • "Despite a public record that raised questions about Javice and Frank — including warnings from the Department of Education and Federal Trade Commission, and a wage theft lawsuit from Frank's cofounder — news outlets and investors kept buying into the narrative that Javice spun."

  • arrested & facing up to 30yrs in prison

  • "Over and over, Javice earned plaudits in the media for projects whose impact she overstated. Glowing profiles missed inaccuracies that could have been caught with a basic fact-check, focusing instead on her youth and status as one of a small number of women startup founders. One journ*list even introduced Javice, then 19, to a key Frank investor."


Her background

https://i.rdrama.net/images/16806299809553056.webp

^ Her with her brother @ 19

  • ambitious af: originally made a microfinance startup called PoverUp (yuck) in high school with her brother

  • told the media she raised $300k for the startup, but there's no proof

  • CNBC ran a bit about Peter Thiel's "paid to not go to college" grant, she appeared on the show claiming she turned the offer down, Peter Thiel emailed CNBC saying she was not even selected

  • still got her tons of press

  • "Fast Company's 2011 list of 100 Most Creative People and a complimentary writeup in Forbes. PoverUp was ranked as one of the "11 coolest college startups" by Inc. Magazine, while Wharton called Javice "the voice of a microfinance generation" in a video it has since removed from YouTube."


Startup number two

https://i.rdrama.net/images/1680629981284241.webp

  • since PoverUp wasn't a real company and naturally died, she created another company with an :marseymerchant: Isreali called "tapd: a company that connected young workers with job opportunities via text message"

  • completely bombed, lost a few hundred k and ended up in a lawsuit w/ Isreali :marseysaluteisrael: courts

  • she pivoted Tapd to an entirely new market that (surprise) turned out to be heavily regulated and she didn't do the research. Sold it as a "learning moment"

  • despite this :marseymerchant: Isreali dude joined her at Frank, before she jewed him out of 10% equity and failed to pay him salary, so he sued her

That doesn't stop a girlboss though:

While the story of Tapd seemed to be one of failure and contentious mismanagement, Javice would spin that turmoil into a story of triumph. The young founder made the crisis part of her personal success story, omitting the lawsuit and framing the layoffs as a teaching moment

Media sucking her (girl) peepee

In 2018 NYTimes let her do an Op-ed:

https://www.nytimes.com/2017/12/19/opinion/fafsa-college-financial-aid.html

https://i.rdrama.net/images/1680629981526812.webp

and was forced to follow it up with a long correction because apparently she didnt know shit about student aid

She got lots of local news:

The death blow:

Frank's public statements about its user base were all over the map.

In April 2017, Frank's website said "thousands" of families using its service had received "$75 million in free aid." (That same website had stock images of people, including of "smiling mature woman" and "good looking cheerful manager," labeled as actual users.)

In November 2018, Frank's website said it had helped 300,000 families unlock over $7 billion in aid.

Frank stuck with the "over 300,000" figure for more than two years. But suddenly, in January 2021, the company began claiming that it served "over 4.25 million students," according to archived versions of its website and tweets from Frank's account referenced in JP Morgan's lawsuit.

In reality, Frank only ever had about 250,000 users, according to JPMorgan's legal complaint.


Orange site discusses: https://news.ycombinator.com/item?id=35441211


(PDF) The JPMorgan complaint: https://content.fortune.com/wp-content/uploads/2023/01/Complaint-1.pdf

211
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Her background

Please be mindful of !chuds when writing about peoples backgrounds. It's missing a piece of information that's very important to us.

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She's Jewish :donkeythonk:

https://i.rdrama.net/images/16806320104610386.webp

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Why does the israel times consider that relevant? Anyone could con the largest bank, it has nothing to do with her ancestry and heritage. They aren't antisemitic, are they?

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she also scammed some israelis in a previous startup fraud, probably why

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It's aspirational

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Stealing $175m from a bank is one of the most anti-semitic acts you can commit

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But also one of the most semitic acts you could commit. :marseycry: How is a man to determine who to side with?

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Ask your rabbi. And then consider a "donation" to your local synagogue

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Rebhi Ben Maseltov writes "He who steals from one of his own has committed a sin, for the scripture says that the goyim were placed on earth to be exploited, so it must be that your own flesh and blood must be treated with kindness." But Rebhi Ben Benjamin writes "If one has failed to do due diligence, even against one of his one, then he has sinned, for how can one expect to con goyim when he is so readily conned himself?"

Godammit, even the torah, my guide in everything, can't provide me any good advice here.

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:marseyxd:

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Jewish pride.

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Why does the israel times consider that relevant?

<4chan noticing israel is jews meme>

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!nooticers it happened again

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We rock :#marseymerchantpat:

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I cant decide if that article is anti-semitic, or the weasel scamming the bankers is.

!jidf please help me figure this out

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She is based for getting that bag, the bank is not based for failing due diligence utterly on the first attempt and taking a year to figure it out

She is not antisemitic as Dimon is not Jewish and JPM is a broadly held company

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Goyim simply cannot keep up with the advanced economic of YHWH's chosen

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yahway or highway

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One of us. She single tho?

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You planning on conjugal visits?

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I’ll break her out of prison and sail together down to Columbia.

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Colombia* common mistake

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Nah Columbia, she needs to get that data science professor to fake another 4 million accounts

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I mean she obviously looked it anyway.

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If you can't tell she's jewish looking at that first picture, you need to fix your jewdar bro

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you can kinda tell by looking at her brother's picture. Plus her isreali cofounder, her "Chief Growth Officer" who got charged with her was also from isreal. They stick together. Google only gave me this headline:

https://i.rdrama.net/images/16806319940183668.webp

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You can tell by looking at her nose

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She honestly should have cashed out and hied thee to Israel. Israel famously refuses to extradite.

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That's only if you're a libertarian with connections to religious leaders.

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