Frankly Fraud | “The $175 Million Scam”
Campus Files: Scandals, Secrets & Crimes at American Universities
Audacy
4.5 • 7.4K Ratings
🗓️ 27 May 2026
⏱️ 26 minutes
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Summary
In 2022, famous young entrepreneur and founder of the student financial aid startup Frank was charged with fraud and conspiracy, facing up to a 100 years in prison. How did this wunderkind turn into an alleged con-artist, and how did America's largest bank get duped?
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Transcript
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| 0:00.0 | Hi, my name is Lloyd Lockridge, and I'm the host of a new podcast from Odyssey called Family Lour. |
| 0:05.9 | In this podcast, I'm going to have people on to tell unusual and sometimes far-fetched stories about their families. |
| 0:11.9 | I've heard my whole life that she invented the margarita. |
| 0:14.5 | And then we're going to investigate those stories and find out how much of it is true. |
| 0:18.5 | He gets a patent one month before the Wright brothers. |
| 0:21.1 | Oh my God. |
| 0:22.1 | Please follow and listen to Family Lore, an Odyssey podcast, available now on Apple Podcasts, Spotify, or wherever you get your shows. |
| 0:33.5 | In 2022, America's largest bank, J.P. Morgan, took an unusual step by suing their former employee, |
| 0:40.3 | then 31-year-old Charlie Javis. For years, Charlie was seen as a sort of wonderkind, an entrepreneurial genius. |
| 0:48.3 | She founded multiple companies, raised millions of dollars, and even sold her second startup, |
| 0:53.3 | a college financial aid tool called Frank, |
| 0:55.6 | to J.P. Morgan. But less than a year after the sale, she and J.P. Morgan would face off in court, |
| 1:02.3 | with Charlie even facing claims of fraud and conspiracy. The story of a young tech entrepreneur |
| 1:08.6 | facing criminal charges now. The 31-year-old is accused |
| 1:12.3 | of fraud for allegedly trying to lure J.P. Morgan Chase so it would acquire her college financial |
| 1:18.2 | planning startup for $175 million. Many were left stunned and confused. Charlie had been |
| 1:26.3 | vocal in advocating for students |
| 1:27.8 | and trying to help make the financial aid process easier, |
| 1:30.8 | but somehow she ended up facing fraud charges. |
| 1:37.5 | I'm Ian Mont. This week on Campus Files, |
| 1:40.7 | frankly fraud, the $175 million scam. |
| 1:57.0 | I'm Louisa Beltran. I'm a reporter in New York. I've been a financial journalist for over 20 years. Much of my focus has been on private equity, where we get to cover a report on very |
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