我们都在这里或那里做过糟糕的交易，但摩根大通做了一笔非常糟糕的交易。这家金融服务公司声称，其对初创公司Frank的收购建立在一个谎言之上，这位年轻的初创公司所有者声称该公司拥有数百万用户。
一、初创公司Frank是？
Frank是一家软件初创公司，旨在帮助学生最大限度地利用学生贷款流程，通过类似turbotax的流程帮助他们处理大量令人困惑的表格。Frank于2020年4月筹集了500万美元，该初创公司于2021年9月被摩根大通收购，当时未披露金额。
二、JPMorgan以1.75亿美元收购了Frank
但这种关系据称是建立在谎言之上的，据彭博社(Bloomberg)报道，摩根大通现在后悔以1.75亿美元收购了Frank。摩根大通在去年12月提起的诉讼中称，当Frank首席执行官Charlie Javice向摩根大通寻求出售时，她以Elizabeth Holmes的方式欺骗了这家大型公司。据报道，当Javice向摩根大通推荐Frank时，他声称这家初创公司有超过400万用户，而实际上只有近30万用户。
三、JPMorgan起诉Frank公司：数据造假
摩根大通在针对Javice的起诉书中表示:“被告 Charlie Javice创立了一家名为Frank的小型初创企业，该企业似乎有发展潜力，并在未来成为一家成功的企业，而且似乎已经取得了早期的成功。”摩根大通在特拉华州根据案件编号1:22- v-01621- mn提交了起诉书。“但为了套取现金，Javice决定撒谎，包括在Frank的成功、规模和市场渗透深度上撒谎，以诱使(摩根大通)以1.75亿美元收购Frank。”
据称，在向摩根大通的推销中，Javice声称，自2020年成立以来，Frank拥有425万用户，网站访问量达到3500万。为了支持这些说法，Javice列出了一份426.5万名学生的名单，据称这些学生通过Frank开始了联邦学生援助免费申请(FAFSA)程序，其中210万名学生完全完成了申请。
摩根大通随后声称，该公司要求提供客户账户数据的全面清单，包括全名、出生日期和家庭地址。Javice最初以隐私问题为由拒绝了这一请求，随后提供了一份包含所有数据的完整列表。在一位Frank工程师拒绝创建篡改数据后，纽约市一位不愿透露姓名的数据科学教授根据30万实际客户的名单，以1.8万美元的价格创建了这个列表。与此同时，诉讼指控Frank。的首席增长官Olivier Amar与一家学生营销公司联系，并以10.5万美元的价格购买了450万名学生的姓名、地址和电话号码。
四、JPMorgan认为Javice和Amar的欺诈行为给公司造成了重大损失
“(摩根大通)以1.75亿美元收购了这家公司，它认为该公司深入参与了拥有426.5万客户的大学年龄段市场；相反，它接手的是一个客户不足30万的业务。Javice和Amar的欺诈行为给(摩根大通)造成了重大损失，其数额将在庭审中得到证实，但不少于1.75亿美元。”
当被问及更多信息时，JPMC发言人Pablo Rodriguez在一份声明中告诉Gizmodo，“我们对Javice女士和Amar先生的法律索赔已在我们的投诉中列出，以及关键事实。Javice女士过去不是，现在也不是告密者。任何争议都将通过法律程序解决。”
五、初创公司Frank认为JPMorgan没有进行适当的尽职调查就急于收购Frank，同时试图转移人们对其违反和学生隐私法的注意力
Frank没有立即回应Gizmodo的置评请求，但Javice的律师告诉彭博社，摩根大通没有进行适当的尽职调查就急于收购Frank，同时试图转移人们对其违反和学生隐私法的注意力。Javice也起诉摩根大通支付她的律师费。
Frank的网站正式关闭，并附上了“Frank不再可用”的消息。同样地，Frank的推特账号@with_frank和Charlie Javice的推特账号@charliejavice也不复存在。
We’ve all made bad deals here and there, but jpmorgan Chase made a very bad deal. The financial services company claims that its acquisition of startup Frank was built on a lie. It with the young startup owner claiming that the company had millions of users.
What is Frank?
Frank is a software startup that aims to help students get the most out of the student loan process. Which by helping them navigate a plethora of confusing forms through a TurboTax-like process. Frank raised $5 million in April 2020. And the startup was acquired by jpmorgan in September 2021 for an undisclosed amount.
JPMorgan bought Frank for $175 million
But that relationship was allegedly based on lies, and jpmorgan now regrets buying Frank for $175 million, according to Bloomberg. When Frank CEO Charlie Javice approached jpmorgan seeking a sale. She defrauded the massive company in an Elizabeth Holmes fashion, jpmorgan alleged in a lawsuit filed in December. When Javice pitched Frank to jpmorgan, he reportedly claimed the startup had more than 4 million users. When in fact it only had close to 300,000.
JPMorgan sued Frank
“Defendant Charlie Javice founded a small start-up called Frank that appeared to have the potential to grow. And become a successful business in the future. And appeared to have achieved early success,” jpmorgan said in its complaint against Javice. Jpmorgan filed the complaint in Delaware under case number 1:22-v-01621-mn. “But in order to extract cash. Javice decided to lie. Including about Frank’s success, size and depth of market penetration, to induce [jpmorgan] to buy Frank for $175 million.”
In his pitch to jpmorgan, Javice allegedly claimed that Frank had 4.25 million users. And 35 million site visits since its launch in 2020. To back up these claims, Javice compiled a list of 4.265 million student. Who allegedly began the Free Application for Federal Student Aid (FAFSA) process. Through Frank, of whom 2.1 million fully completed the application.
Jpmorgan then alleged that it asked for a comprehensive list of customer account data. Including full names, dates of birth and home addresses. Javice initially denied the request, citing privacy concerns, and later provided a full list of all the data. After a Frank engineer refused to create doctored data, an unnamed data science professor in New York City. Which created the list for $18,000, based on a list of 300,000 actual customers. Meanwhile, the lawsuit accuses Frank. Olivier Amar, the company’s chief growth officer, contacted a student marketing firm and bought the names, addresses and phone numbers of 4.5 million students for $105,000.
JPMorgan believes that Javice’s and Amar’s frauds have caused significant losses to the company
“[jpmorgan] bought the company for $175 million that it thought was deeply engaged in the college-age market of 4.265 million customers; Instead, it inherited a business with fewer than 300,000 customers. Javice and Amar’s fraud caused significant losses to [jpmorgan], the amount of which will be established at trial, but not less than $175m.”
When asked for more information, JPMC spokesman Pablo Rodriguez told Gizmodo in a statement, “Our legal claims against Ms. Javice and Mr. Amar are laid out in our complaint, along with key facts. Ms. Javice was not, and is not, a whistleblower. Any dispute will be resolved through the legal process.”
Frank, a startup, argues that JPMorgan rushed to acquire Frank without proper due diligence, while trying to divert attention from its violations and student privacy laws
Frank did not immediately respond to Gizmodo’s request for comment, but Javice’s lawyer told Bloomberg that jpmorgan rushed to acquire Frank without proper due diligence while trying to deflect attention from its violations and student privacy laws. Javice is also suing jpmorgan to pay her legal fees.
Frank’s website is officially down, with the message “Frank is no longer available.” Likewise, Frank’s Twitter account @with_frank and Charlie Javice’s Twitter account @charliejavice are no more.
文章来源：https://gizmodo.com/jpmorgan-start-up-frank-student-loan-debt-1849978823
本文由数字化转型网（www.szhzxw.cn）翻译而成，作者：Kevin Hurler；翻译：数字化转型网郑亚茹；翻译审核：数字化转型网默然。
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