New York – A Florida woman displayed “shameless fraud” to sell it Student Help Startup TO JPMORGAN CHASE AND Co. for $ 175 million after dramatically exaggerating his client base, a prosecutor told Juries on Wednesday in the closing argument of a criminal trial.
The United States Assistant Prosecutor, Nicholas Chiuchiolo Conspiracy and fraud charges.
The defense lawyer José Báez urged an acquittal of his 32 -year -old client, qualifying the “incredibly defective” test. He urged the jury to “look at the evidence, the lack of evidence and the conflict of evidence” to exonerate Javice.
While talking, Javice sometimes smiled and turned her chair to face the jury.
Prosecutors said that Miami Beach resident, Florida, who appeared in the Forbes list 2019 “30 under 30” He would have won $ 45 million of fraud.
The presentation of defense occurred after Chiuchiolo cited emails, text messages and telephone calls to convince the jurors that Javice repeatedly lied to JPMorgan in the summer of 2021 to ensure a purchase that would earn millions of dollars.
The company that Javice founded once seemed a pioneer among companies that serve university students, who encourage them to open credit card accounts or credit cards with the hope that they become customers for life.
Frank, established in 2017 as TapD Inc., was created to simplify the free federal aid application for students, a federal government form used by students to request financial assistance to the University or the Postgraduate School.
Chiuchiolo said Javice, which was Arrested in April 2023 And it is free on bail, he sought to sell the company in 2021, when he had about 400,000 clients, claiming that he had more than 4.25 million customers.
When JPMorgan Chase sought to verify the customer list, Javice approached his company’s chief of engineering for the first time, asking if he could produce “synthetic data” to show that the company had more than 4 million customers, said the prosecutor.
But the employee refused, saying that “he would not do anything illegal,” said Chiuchiolo.
“They will call it a liar,” he predicted about the characterization of the defense of his testimony. “Because if you believe him, the defendants are guilty.”
Javice finally hired an external data scientist for $ 105,000 to create a synthetic data set that shows more than 4.2 million students, prosecutors said.
Javice did not testify during the five -week trial. The jury was expected to begin deliberations on Thursday.
