When JP Morgan asked for proof during due diligence, Javice allegedly created an enormous roster of “fake customers – a list of names, addresses, dates of birth, and other personal information for 4.265 million ‘students’ who did not actually exist.” In reality, according to the suit, Frank had fewer than 300,000 customer accounts at that time.“After JPMC rushed to acquire Charlie's rocketship business, JPMC realized they couldn't work around existing student privacy laws, committed misconduct and then tried to retrade the deal,” Javice’s lawyer, Alex Spiro, said in a statement emailed to Forbes.When JP Morgan acquired Frank in September of 2021 it brought on Javice, Amar and other Frank staffers as employees.She told Forbes then that Frank had helped 300,000 students apply for financial aid; when she announced the JP Morgan acquisition on LinkedIn two years later, she said it was then “serving over 5 million students at over 6,000 colleges.” (Asked in her 30 Under 30 submission the biggest hurdle the company was facing, Javice said: “Scaling.”) “Javice chose to invent several million Frank customer accounts out of whole cloth.” Since Frank was acquired, she’d been a managing director at JP Morgan overseeing student-focused products at Chase, according to her LinkedIn.Amar, who was made executive director of student solutions at JP Morgan, according to his LinkedIn, received about $5 million from the deal and similarly bargained for a $3 million retention bonus, the complaint said."