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Corporate Gossip

Charlie Javice & The Frank Fraud: Barely Legal

Corporate Gossip

Becca Platsky

Society & Culture, Business

4.9655 Ratings

🗓️ 7 March 2025

⏱️ 75 minutes

🧾️ Download transcript

Summary

Please share this podcast with a friend! 

Charlie Javice is another Forbes 30-under-30 uber-genius-startup-founder (see: SBF, Elizabeth Holmes, or Carlos Watson) who spent about 18 months in the warm center of the venture capital fake-it-till-you-make-it circle jerk before the sisal rug gets pulled out from under her. Once she was exposed as a total phony, every investor immediately covered their own ass and scrub the internet of any trace of themselves slobbering all over her. But one investor, JP Morgan's Jamie Dimon, took it a step further, and (in our opinion) weaponized the United States Justice Department to punish Javice for embarrassing him infront of his big bank friends!!! 

Pictures from this episode on Substack

We're an indie podcast supported by listeners like you! Support us by joining the Patreon, and get two bonus episodes every month! I'm also covering the trial in more detail over there. 

Got an idea for a good news story? Send an email to our good news correspondant elizabethliu526@gmail.com 

Links: 

USA v. Javice

How Charlie Javice Got JPMorgan to Pay $175 Million for … What Exactly?

Charlie Javice, Millennial CEO Sued by JPMorgan, Was a 'Namedropping' Cool Boss

The 8 Most Confusing Things About FAFSA

Jamie Dimon Says Frank Acquisition 'Was A Huge Mistake' After JP Morgan Alleges Millions Of Fake Customers

 

Transcript

Click on a timestamp to play from that location

0:00.0

On September 21st, 2021, Charlie DeVisa's dreams came true.

0:13.8

She'd graduated from an Ivy League business school, been named a Forbes 30 under 30,

0:19.9

and now the startup founder's Golden Goose.

0:23.7

Her company, Frank, which she said had helped over 4 million high school students apply for

0:29.3

college financial aid, was just acquired by J.P. Morgan for $175 million.

0:43.2

On top of that, J.P. Morgan would make her a vice president with a half a million annual salary and a $20 million retention bonus. She immediately posts on LinkedIn. Today is my first

0:53.1

day employed by somebody else, ever.

0:56.8

I mean, it still feels very much like pinch me, did this really happen?

1:02.2

It was also a dream for J.P. Morgan's CEO.

1:06.5

Frank was just the little treat that Jamie Diamond had been looking for that sweet sweet

1:13.1

student data four million fat lines of precious future customers barely legal

1:20.9

prime targets for new bank accounts credit cards loans he could barely wait to get his sticky little fingers on those files.

1:30.3

Come to Papa!

1:33.3

Jamie Diamond already had a marketing email ready to go to about half a million kids.

1:38.3

The marketing department hit send and Diamond rubbed his hands together.

1:43.3

Now we just sit back and wait as the money starts

1:47.0

flow.

1:48.0

The email you have tried to reach does not exist.

1:53.0

Jamie Diamond was irate. The emails don't exist? Who was responsible for checking that these emails

1:59.0

were real? Wait, did anybody check that these emails were real?

2:03.2

The answer was no.

2:05.8

No one checked that these emails were real.

...

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