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Boston Herald
Boston Herald
28 Mar 2025
Associated Press


NextImg:Ticker: Charlie Javice convicted of defrauding JPMorgan; Resorts World casino in Las Vegas fined $10.5M in money-laundering case

Charlie Javice, the charismatic founder of a startup company that claimed to be revolutionizing the way college students apply for financial aid, was convicted on Friday of defrauding one of the largest U.S. banks, JPMorgan Chase, out of $175 million by exaggerating her customer base by 10 times.

A jury in New York City returned its verdict after a five-week trial. Javice, 32, faces the possibility of a lengthy prison term. She appeared sullen at the defense table as the verdict was read. A lawyer placed her hand on Javice’s back.

Javice was in her mid-20s when she founded Frank, a company with software that promised to simplify the process of filling out the Free Application for Federal Student Aid, a complex government form used by students to apply for aid for college or graduate school.

Nevada gaming regulators have issued a $10.5 million fine against the Resorts World casino on the Las Vegas Strip over allegations of illegal gambling, many of which centered on a bookmaker with ties to the interpreter for baseball star Shohei Ohtani.

The fine settles a complaint that the state Gaming Control Board filed last year accusing one of the largest casinos on the Strip of welcoming people with ties to illegal bookmaking and people with a history of gambling-related felony convictions, the Las Vegas Review-Journal reported.

The fine, issued on Thursday, is the second-largest handed down by the Nevada Gaming Commission, which has authority over disciplinary action.