Fintech star gets 7 years for defrauding JPMorgan Chase out of $175M — why it took the bank 1 year to figure it out
But that didn’t stop JPMorgan Chase from finalizing the purchase. One year after the bank spent $175 million to acquire Frank, analysts at JPMorgan Chase finally discovered that Javice’s data had been falsified.As Business Insider reports, JPMorgan Chase asked for access to the spreadsheets before completing the purchase, but Javice had issues with the bank’s request and didn’t agree to deliver them. Javice reportedly cited privacy concerns over sharing the personal data of Frank’s users. (1)Before completi ...