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The alleged JPMORGAN Chase’s close relationship with prosecutors will be a key focus in the defense strategy of a young entrepreneur, Charlie Javica, who should be judged this week for the criminal complaint that she has overwhelmingly forced the US Bank to buy her company.
Javica’s defense team maintains a lender basically felt remorse of the buyer and exploited the Government to turn the commercial dispute into a criminal case. Javica31, he was arrested two years ago for deceiving fraud over $ 175 million in sales JPMORGAN 2021 her company Frank, who supported students who were applying for financial assistance.
Her legal team accused JPMORGAN of having had a huge authority over the plaintiffs in his investigation, claiming that such a coordination was preceded by his own lawsuit of the bank against Javica for fraud.
“The Government has intimately cooperated with the JPMC, despite the reputational share of the bank in the outcome of the case as a acquirer,” Javica’s team argued last month.
The prosecution claimed that the prosecution claimed that “conducted an extensive, independent investigation into the accusations in this case” and accused Javacein that he cited “Smorgasbord on the incomplete behavior of the Government.”
New York prosecutors accuse Javice and her co -defendant Olivier Amar, Frank’s former director of growth, to pay a scientist for the production of account production to display 4.25 million users when Frank’s real figure was 90 percent less. The trial should start on February 18th.
Amar’s lawyer, who denied all the crimes, did not respond to the commentary’s requests.
“There will be a strong defense and some surprises,” said a spokesman for Javica’s legal team led by Jose Baez, who had previously represented Harvey Weinstein.
“Search Google and focus on a time box in July 2021 and I think you will find about two ten articles of all kinds of Frank and Charlie talking about its signed users in several hundred thousand. It was out there.”
Javace’s defense can depend on the differences that the student was defined as “signed” – Business Insider reported in July 2021 that she told the Frank publication “served more than 5 million households”.
The case will be eliminated by one of the most unusual episodes in recent history of JPMORGAN – while the job was inappropriate for a bank that made almost $ 60 billion in earnings last year, Jamie Dimon CEO, who made his name partly for his Acromena contract, marked this with a “huge mistake”.
He also renewed attention to the charismatic founders, promising revolutionary companies, after high trials of fraud for Elizabeth Holmes, Sam Bankman-Fied and Trevor Milton. They were all later convicted and sentenced to several years in prison.
Prosecutors found texts between Javica and Amar who talked about the condemnation of Holmes, the founder of the Theranos Blood testing company. Javica wrote to Amar from Holmes: “I hope it is a slight penalty..
Javice began what later became known as Frank in 2017, four years after she graduated from the University of Pennsylvania. The website offered to students’ assistance in financial assistance.
Frank eventually attracted funds from Aleph, Israeli’s risk capital company, as well as billionaire investor Marc Rowan of Apollo Global Management, also Penn Alumnus. Javice appeared on the subcasties to promote Frank for the family of medium and lower incomes who want to send their children to college.
JPMORGAN sought Frank for his relationship with younger Americans to cross banking products. Prosecutors allegedly kept a scheme to seem to make her company a more critical mass to attract a potential acquirer.
The investment bank, Lientree, has auctioned in 2021 for Frank, in the midst of lurking a public and private markets. JPMORGAN executives stated that the assessment of the company was supported by Frank’s users for whom JPMORGAN believed was in millions.
“What we buy is the team, Mark, an algorithm, which, together and without millions of relationships with customers, would be worth a small part of the purchase price,” wrote one executive director of the JPMORGAN to another about the project Finnish, internal name of the Codex. The bank assigned to Frank.
JPMORGAN JAVICE paid $ 21 million for his Frank share, with a further bonus bonus offering for $ 20 million, which was never paid.
Since his arrest in April 2023, Javice has been free of charge with a $ 2 million bail, secured against his apartment in Miami. The court approved her request to remove an ankle monitor so she could do the job as a fitness instructor.
JPMORGAN filed a separate civil lawsuit against Javica. The trial is expected to last four weeks.
