Archive · 13 Sep 2025
Apollo CEO Urges Leniency for Javice in JPMorgan Fraud Case
Charlie Javice, who used to run a student finance company called Frank, was found guilty of tricking JPMorgan Chase.
She told the bank her company had many more users than it really did, leading JPMorgan to buy Frank for a lot of money.
Now, the judge is deciding how to punish her.
Some people, like the CEO of Apollo Global Management, who invested in Frank, are asking the judge to be lenient.
Prosecutors have not yet decided what sentence to recommend, but court staff have mentioned a potential 12-year prison term.
Javice's lawyers argue for a shorter sentence, stating the financial loss to JPMorgan wasn't significant.
Charlie Javice was convicted of defrauding JPMorgan Chase.
Apollo CEO Marc Rowan asked for leniency in Javice's sentencing.
Javice's company, Frank, was acquired by JPMorgan for $175 million.
Javice was convicted of lying about the number of users Frank had.
Sentencing is scheduled for September 29.
- Who
- Charlie Javice, former founder of Frank, and Marc Rowan, Apollo Global Management CEO.
- What
- Javice was convicted of defrauding JPMorgan Chase.
- When
- Javice is scheduled to be sentenced on September 29. She was convicted in March.
- Where
- Manhattan federal court.
- Why
- Javice was convicted of lying to JPMorgan about Frank's user numbers to facilitate a $175 million acquisition.
- Defendant
- Charlie Javice
- Conviction
- Fraud
- Victim
- JPMorgan Chase & Co.
- Acquisition Amount
- $175 million
- Sentencing Date
- September 29
- Alleged Loss
- ~$200 million
- District Court
- Southern District of New York (Manhattan)