JPMorgan files lawsuit against Frank, NY Times reports

JPMorgan paid $175M to acquire Frank, a college financial planning company, back in 2021, which, at the time, it heralded it as a "unique opportunity for deeper engagement" with 5Mstudents using the program, Ron Lieber of The New York Times reports. Last month, however, the company said it had been conned. In a lawsuit, JPMorgan claims Frank’s founder, Charlie Javice, engage in a scheme to fake that list of 5M customers. JPMorgan’s legal filings accuse Javice and Oliver Amar, Frank’s chief growth and acquisition officer, of faking their customer list and of hiring a data science professor to deceive JPMorgan’s due-diligence team. Reference Link