Charlie Javice, the founder of Frank and a former Forbes 30 Under 30 honoree, has been sentenced to seven years in prison for defrauding JPMorgan Chase.
JPMorgan Chase acquired Frank for $175 million in 2021 but later accused Javice of misrepresenting the startup's customer base, claiming 4 million users instead of the actual 300,000.
A former Frank engineer testified that Javice requested the creation of fake user data before the acquisition.
Javice and her co-defendant, Olivier Amar, will be responsible for paying $278.5 million in restitution.