, that the startup had allegedly fabricated the majority of its users, bolstering its value with millions of fake accounts., the startup, called Frank — a financial platform for college students looking to apply for federal aid — approached JPMorgan in the summer of 2021. Impressed by the roughly 4.
Things seemingly went swimmingly until sometime last spring, when the bank apparently tried to send an email to Frank's alleged millions of customers. According to JPMorgan, an astonishing 70 percent of those emails bounced back, leading to an investigation against Javice and the company.less than 300,000 real usersRest assured, JPMorgan is pissed. As of last month, they're suing Javice and Frank's chief growth officer, Olivier Amar.
Damn.
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JPMorgan CEO Jamie Dimon calls Frank acquisition a 'huge mistake'JPMorgan CEO Jamie Dimon called the bank's acquisition of fintech Frank a 'huge mistake' after being grilled about it on an earnings call Yeppers
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