Javice is accused of inflating the number Frank's users before she sold it to JPMorgan Chase.
The charges represented a significant fall for one of the much-lauded young fintech founders.
But within a year of selling Frank to JPMorgan Chase, the bank cried foul, claiming that the number of users had been wildly inflated.
The complaint alleges that Javice bought names and email addresses from third parties and then represented them as Frank customers.
Fergenson explained that Javice had made JPMorgan Chase, "believe that Frank had been an extremely successful start up."
Persons:
Charlie Javice, Frank, Javice, JPMorgan Chase, Jarvis, Micah F, Fergenson, octogenarian, Alvin K, Morgan Chase, Judge Hellerstein, Alex Spiro
Organizations:
JPMorgan, Manhattan, Frank's, Forbes, U.S, Southern, of, Securities and Exchange Commission
Locations:
of New York