Judge calls out ‘stupidity’ of 300 bankers of America’s largest bank JP Morgan Chase while sentencing Charlie Javice, once called ‘wonder’ CEO

Fintech founder Charlie Javice was sentenced to seven years in prison and ordered to pay $287.5 million for defrauding JP Morgan. She sold her startup Frank for $175 million based on fabricated user data. The judge, while chiding JP Morgan’s poor due diligence, emphasized that fraud remains fraud, irrespective of the victim’s oversight.