Charlie Javice, the founder of student loan start-up Frank, has been sentenced to 85 months in prison for defrauding JPMorgan Chase during the bank’s $175 million acquisition of her company. The sentencing, delivered on Monday in Manhattan federal court, follows her conviction earlier this year on charges of bank, wire, and securities fraud, as well as conspiracy to commit fraud. Javice was found guilty of fabricating customer data to inflate Frank’s user base, misleading JPMorgan into believing the platform had 4 million users when the actual number was closer to 300,000. Federal prosecutors had sought a 12-year sentence, while Javice’s defense team argued for 18 months. In addition to the prison term, U.S. District Judge Alvin Hellerstein ordered Javice to forfeit over $22 million and pay $287 million in restitution to JPMorgan, jointly with her co-defendant Olivier Amar, Frank’s chief growth and acquisition officer. Javice, 33, gained prominence in the financial sector after launching Frank in 2017, which aimed to simplify the college financial aid process. Her success earned her a spot on Forbes’ ’30 Under 30′ list in 2019. However, JPMorgan’s acquisition of Frank in 2021 quickly unraveled as the bank discovered the fraudulent user data. JPMorgan CEO Jamie Dimon has since labeled the deal a ‘huge mistake.’ In a recent letter to Judge Hellerstein, Javice expressed remorse, stating, ‘I accept the jury’s verdict and take full responsibility for my actions. There are no excuses, only regret.’