Charges and Defense
, founder of Frank, is on trial for allegedly defrauding in a $175 million buyout, claiming her company had millions of customers when it only had about 400,000.
Javice's attorney, Jose Baez, argues that the charges stem from JPMorgan's "buyer's remorse" after regulatory changes made the deal impractical, suggesting the bank falsely claimed fraud to cancel the buyout.
Prosecutor's Claims and Defense's Argument
Prosecutors allege Javice concocted a "massive fraud" by purchasing off-the-shelf data to support her claims of having over four million customers, aiming for a $45 million gain from the deal.
Baez counters that Javice acted honorably, highlighting her role in connecting JPMorgan with young banking customers and criticizing the bank for rushing the deal, implying they took a gamble and lost.