Episode Details

Charlie Javice, founder of student finance startup Frank, is seeking a presidential pardon from Donald Trump after being convicted for faking millions of fake accounts to inflate her company’s value before selling it to JPMorgan Chase for $175 million. Now serving an 85-month sentence, Javice’s appeal and pardon push put JPMorgan in a bizarre position — they were the victims of the fraud but are also entangled in a $5 billion lawsuit filed by Trump, accusing the bank of politically closing his accounts. The Frank acquisition backfired badly: JPMorgan paid far more than expected, covering Javice’s $115 million legal bill and facing a massive accounting discrepancy — the company claimed 4 million users, but only 300,000 were real. A judge even criticized JPMorgan’s due diligence. Meanwhile, civil cases tied to the fraud are reopening, and Javice’s pardon bid may gain traction thanks to influential backers, including a major Trump donor and advisor, who could sway the administration ahead of a potential pardon window.

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