Charlie Javice’s fraud trial has become an embarrassing shopping showcase on both sides, with details on how JPMorgan Chase would have been deceived to buy his startup, Frank, for $ 175 million when he had only 300,000 customers instead of four million.
By a new WSJ articleA pivotal moment came when Frank’s former engineer Patrick Vovor said he refused Javice’s request to create false user data a week before the sale, remembering that she had said to him: “Don’t worry. I don’t want to end up in an orange combination.” When Vovor refused, Javice would have turned to a math teacher to generate synthetic user data, which was then submitted to JPMorgan. (In court, Javice’s legal team painted Vovor as a despised pretender.)
In addition to JPMorgan’s failure to correctly check the Frank user base, other uncomfortable details have appeared, including Leslie Wims Morris, which led to JPMorgan, would have sent a note to her team, highlighting the annual letter segments of CEO Jamie Dion to all. “”
Javice lawyers told court that it was proof that Jpmorgan did not think he needed to check his work, but Morris testified that he was ironic and written as “a joke to my team”.
