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NEW YORK – The founder of Frank, a student loan assistance startup company that J.P. Morgan Chase acquired for $175 million two years ago, was arrested on charges that she duped the financial giant by dramatically inflating the number of customers her company had, authorities said.

Charlie Javice, 31, of Miami Beach, Florida, was arrested Monday night in New Jersey on conspiracy, wire and bank fraud charges.

A charging document in Manhattan federal court said she claimed her company had over four million users when it had fewer than 300,000 customers.

“This arrest should warn entrepreneurs who lie to advance their businesses that their lies will catch up to them.” US Attorney Damian Williams

Authorities said Javice, who appeared on the Forbes 2019 "30 Under 30" list, would have earned $45 million from the fraud.

Javice and her lawyer declined to comment as they left court after Javice signed a $2 million bond and agreed to curfew and possible electronic monitoring if court officers decide it is necessary. 

She also agreed not to contact key figures in the case — including investors — except for her mother and her mother's boyfriend.

In a release, U.S. Attorney Damian Williams said Javice "engaged in a brazen scheme" to defraud the acquiring financial company by fabricating data to support lies she told in a bid to make tens of millions of dollars from the sale of her company.

"This arrest should warn entrepreneurs who lie to advance their businesses that their lies will catch up to them," he said.

According to a criminal complaint, Javice in 2017 founded TAPD Inc., which operated under the name Frank, to provide an online platform to simplify the process of filling out the Free Application for Federal Student Aid, a free federal government form used by students to apply for financial aid for college or graduate school.

In 2021, Javice sought to sell her company in her role as its chief executive to a large financial institution, the complaint said.

When JPMC sought to verify that her company had 4.25 million customers, Javice asked her company's director of engineering to create an artificially generated data set, but the individual declined, it said.

She then hired an outside data scientist to create the synthetic data set as she purchased for $105,000 on the open market real information for over 4.25 million students, the complaint said. But it added that the data she purchased did not contain all of the information she had told JPMC was maintained by Frank.

“Rather than help students, we allege that Ms. Javice engaged in an old school fraud.” Gurbir S. Grewal, director of the SECs Division of Enforcement

In a civil complaint filed by the Securities and Exchange Commission, the regulatory agency alleged that Javice made numerous misrepresentations about Frank's alleged millions of users to entice JPMC to purchase the now shuttered Frank.

Gurbir S. Grewal, director of the SEC’s Division of Enforcement, said in a release that "even non-public, early-stage companies must be truthful in their representations."

He added: "Rather than help students, we allege that Ms. Javice engaged in an old school fraud: she lied about Frank’s success in helping millions of students navigate the college financial aid process by making up data to support her claims, and then used that fake information to induce JPMC to enter into a $175 million transaction."

LARRY NEUMEISTER, with the Associated Press, helped contribute to this report.

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‘Immigration is killing Europe’: Donald Trump issues warning to leaders as he arrives in Scotland

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'Immigration is killing Europe': Donald Trump issues warning to leaders as he arrives in Scotland

Donald Trump has landed in Scotland ahead of a four-day trip, which includes high-level meetings, praising Sir Keir Starmer as “a good man” but also calling illegal migration a “horrible invasion” that was “killing Europe”.

Crowds gathered at Prestwick Airport in Ayrshire amid a major security operation for the US president’s visit.

Mr Trump told reporters: “I like your prime minister. He’s slightly more liberal than I am… but he’s a good man… he got a trade deal done. It’s a good deal for the UK.”

Trump latest: Donald Trump arrives in Scotland

The pair are expected to discuss potential changes to the UK-US trade deal which came into force last month.

Trump left Air Force One to head to Turnberry, one of his Scottish golf courses. Part of the trip will include the opening of another course in Aberdeenshire, billed as “the greatest 36 holes in golf”.

Trump supporters watch on as a plane carrying US President Donald Trump arrives at Prestwick Airport
Image:
Trump supporters waved as Air Force One landed. Pic: PA

“There’s no place like Turnberry. It’s the best, probably the best course in the world. And I would say Aberdeen is right up there,” the US president said.

Sean Connery helped get me the [planning] permits. If it weren’t for Sean Connery, we wouldn’t have those great courses,” he added.

During the trip, President Trump will also hold discussions with Scotland’s First Minister John Swinney and EU Commission President Ursula von der Leyen, who is keen to secure a trade deal with the US.

President Donald Trump speaks to members of the media after he arrived at Prestwick Airport in Ayrshire, Scotland, Friday, July 25, 2025.(AP Photo/Jacquelyn Martin)
Image:
Donald Trump spoke to reporters after landing at Prestwick Airport, Ayrshire. Pic: AP

Mr Trump told reporters there was “a good 50-50 chance” of an agreement with the EU but added there were “maybe 20 different” sticking points.

EU diplomats say a deal could result in a broad 15% tariff on EU goods and half of the 30% Trump is threatening to impose by 1 August.

A motorcade carrying U.S. President Donald Trump drives to Turnberry, in Minishant, Scotland, Britain, July 25, 2025. REUTERS/Phil Noble
Image:
He travelled to Turnberry, one of his Scottish golf resorts, amid tight security. Pic: Reuters

The US president touched on illegal immigration and gave European leaders a stark warning.

“You better get your act together or you’re not going to have Europe anymore. You got to get your act together,” he said.

“But you’re allowing it to happen to your countries and you got to stop this horrible invasion that’s happening to Europe. Immigration is killing Europe,” he told reporters.

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What do Scots think of Trump visit?

He was also scathing about the installation of wind turbines across Europe.

“Stop the windmills. You’re ruining your countries,” he said. “It’s so sad. You fly over and you see these windmills all over the place, ruining your beautiful fields and valleys and killing your birds.”

Read more from Sky News:
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Domestically, President Trump faces the biggest political crisis of his second term in office over his administration’s handling of files linked to disgraced financier and sex offender Jeffrey Epstein, who died in prison in 2019.

He faced another round of questions after stepping off Air Force One. “You’re making a big thing over something that’s not a big thing. I’m focused on making deals, not on conspiracy theories that you are,” he said.

Mr Trump added that “now’s not the time” to discuss a pardon for Ghislaine Maxwell, Epstein’s imprisoned accomplice.

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Trump in Scotland amid Epstein storm

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While the president’s visit did attract some enthusiastic flag-waving supporters at Prestwick Airport, he is also likely to trigger a number of protests, prompting Police Scotland to call in support from other forces in the UK.

The Stop Trump Scotland group has planned demonstrations on Saturday in Edinburgh, Aberdeen and Dumfries.

About 70% of Scots have an unfavourable opinion of Trump, while 18% have a positive opinion, an Ipsos poll in March found.

President Trump is staying at his Turnberry property on Scotland’s west coast this weekend, before travelling to Aberdeenshire on Monday, where he will open a second 18-hole course.

He is due to return to the UK in September for a state visit hosted by the King – the first world leader in modern times to undertake two UK state visits.

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‘Immigration is killing Europe’: Donald Trump issues warning to leaders as he arrives in Scotland

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'Immigration is killing Europe': Donald Trump issues warning to leaders as he arrives in Scotland

Donald Trump has landed in Scotland ahead of a four-day trip, which includes high-level meetings, praising Sir Keir Starmer as “a good man” but also calling illegal migration a “horrible invasion” that was “killing Europe”.

Crowds gathered at Prestwick Airport in Ayrshire amid a major security operation for the US president’s visit.

Mr Trump told reporters: “I like your prime minister. He’s slightly more liberal than I am… but he’s a good man… he got a trade deal done. It’s a good deal for the UK.”

Trump latest: Donald Trump arrives in Scotland

The pair are expected to discuss potential changes to the UK-US trade deal which came into force last month.

Trump left Air Force One to head to Turnberry, one of his Scottish golf courses. Part of the trip will include the opening of another course in Aberdeenshire, billed as “the greatest 36 holes in golf”.

Trump supporters watch on as a plane carrying US President Donald Trump arrives at Prestwick Airport
Image:
Trump supporters waved as Air Force One landed. Pic: PA

“There’s no place like Turnberry. It’s the best, probably the best course in the world. And I would say Aberdeen is right up there,” the US president said.

Sean Connery helped get me the [planning] permits. If it weren’t for Sean Connery, we wouldn’t have those great courses,” he added.

During the trip, President Trump will also hold discussions with Scotland’s First Minister John Swinney and EU Commission President Ursula von der Leyen, who is keen to secure a trade deal with the US.

President Donald Trump speaks to members of the media after he arrived at Prestwick Airport in Ayrshire, Scotland, Friday, July 25, 2025.(AP Photo/Jacquelyn Martin)
Image:
Donald Trump spoke to reporters after landing at Prestwick Airport, Ayrshire. Pic: AP

Mr Trump told reporters there was “a good 50-50 chance” of an agreement with the EU but added there were “maybe 20 different” sticking points.

EU diplomats say a deal could result in a broad 15% tariff on EU goods and half of the 30% Trump is threatening to impose by 1 August.

A motorcade carrying U.S. President Donald Trump drives to Turnberry, in Minishant, Scotland, Britain, July 25, 2025. REUTERS/Phil Noble
Image:
He travelled to Turnberry, one of his Scottish golf resorts, amid tight security. Pic: Reuters

The US president touched on illegal immigration and gave European leaders a stark warning.

“You better get your act together or you’re not going to have Europe anymore. You got to get your act together,” he said.

“But you’re allowing it to happen to your countries and you got to stop this horrible invasion that’s happening to Europe. Immigration is killing Europe,” he told reporters.

Please use Chrome browser for a more accessible video player

What do Scots think of Trump visit?

He was also scathing about the installation of wind turbines across Europe.

“Stop the windmills. You’re ruining your countries,” he said. “It’s so sad. You fly over and you see these windmills all over the place, ruining your beautiful fields and valleys and killing your birds.”

Read more from Sky News:
Epstein risks following Trump
Ghislaine Maxwell questioned
Epstein questions keep coming

Domestically, President Trump faces the biggest political crisis of his second term in office over his administration’s handling of files linked to disgraced financier and sex offender Jeffrey Epstein, who died in prison in 2019.

He faced another round of questions after stepping off Air Force One. “You’re making a big thing over something that’s not a big thing. I’m focused on making deals, not on conspiracy theories that you are,” he said.

Mr Trump added that “now’s not the time” to discuss a pardon for Ghislaine Maxwell, Epstein’s imprisoned accomplice.

Please use Chrome browser for a more accessible video player

Trump in Scotland amid Epstein storm

👉 Follow Trump100 on your podcast app 👈

While the president’s visit did attract some enthusiastic flag-waving supporters at Prestwick Airport, he is also likely to trigger a number of protests, prompting Police Scotland to call in support from other forces in the UK.

The Stop Trump Scotland group has planned demonstrations on Saturday in Edinburgh, Aberdeen and Dumfries.

About 70% of Scots have an unfavourable opinion of Trump, while 18% have a positive opinion, an Ipsos poll in March found.

President Trump is staying at his Turnberry property on Scotland’s west coast this weekend, before travelling to Aberdeenshire on Monday, where he will open a second 18-hole course.

He is due to return to the UK in September for a state visit hosted by the King – the first world leader in modern times to undertake two UK state visits.

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‘It’s the Wild West’: Dozens of women develop botulism linked to anti-wrinkle injections

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'It's the Wild West': Dozens of women develop botulism linked to anti-wrinkle injections

A woman who thought she was being injected with Botox was left unable to swallow and doctors thought she had suffered a stroke – after she contracted a life-threatening illness from a potentially illegal product.

Nicola Fairley is one of dozens of people who have developed botulism linked to unlicenced anti-wrinkle injections.

She had the procedure done with her regular beautician after winning a Facebook competition for three areas of “Botox”.

Nicola Fairley
Image:
Nicola Fairley

“Within two or three hours my forehead and the sides of my eyes had started to freeze,” Nicola says.

“At first I thought ‘amazing’, that’s what I wanted – then it just carried on.”

Nicola was eventually sent to A&E in Durham, where she met several other patients who all had similar symptoms.

Doctors were stumped. “They thought I’d had a stroke,” she says.

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“We all had problems with our eyes, some of us with our breathing. I couldn’t swallow – they put me on nil by mouth because they were worried I would choke in the waiting room.”

Nicola Fairley
Image:
Doctors were worried Nicola could choke after she was injected with a suspected illegal product

It turns out all of the patients had recently had anti-wrinkle injections containing botulinum toxin.

Health officials believe they were imported, illegal products.

Botulism – the disease they caused – is so rare many doctors never see it in their entire careers.

It can cause symptoms including slurred speech and breathing problems, and can be deadly.

The disease is so unusual, and so many cases were coming in, that doctors exhausted their stocks of anti-toxin and had to ask hospitals as far away as London to get more.

Botulism

The UK Health Security Agency has so far confirmed 38 cases of botulism linked to cosmetic toxin injections, but Sky News has been told of several more.

The outbreak began in the North East but cases have now been seen in the East of England and East Midlands as well.

There are only a handful of legal botulinum toxin products in the UK – of which Botox is one.

But cosmetic treatments are largely unregulated, with anyone allowed to inject products like fillers and toxins without any medical training.

Cheap, illegal products imported from overseas are easily available.

Steven Land
Image:
Dr Steven Land

‘It’s the Wild West’

Dr Steven Land runs Novellus Aesthetics clinic in Newcastle upon Tyne. He worked for decades as an emergency medicine doctor before moving into aesthetics.

He says he has been warning health officials of an outbreak for years.

“It’s the Wild West,” Dr Land told Sky News.

“Because anyone can do this, there is a lack of knowledge around what is legal, what’s not legal, what is okay to be injected.

“These illegal toxins could have 50 units, 5,000 units or rat poison – there could be anything in there.”

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Kelly Osbourne pays tribute to ‘best friend’ Ozzy
Scots divided as Trump flies in for visit

Botulism

Dr Land showed us messages that he says he gets on a weekly basis, from sellers trying to push him cheap, unlicenced products.

They advertise “limited time offers” and cheap bundles on toxins imported from overseas. He calls them “drug dealers”.

“They are preying on the lack of knowledge among non-medical practitioners,” he says.

Consultations on how to regulate the aesthetics industry have been ongoing for years – but so far, no changes have been introduced.

The UK government now says it does plan to regulate certain procedures, but it’s not said how it will do this, or when.

“What will it take?” Nicola says. “One of the women we were with did almost die – she had to be resuscitated.”

Nicola’s beautician has stopped responding to her messages, so she says she still has no idea what the product was “or how much of it is in me”.

She doesn’t know how long her symptoms will last, but just hopes she will eventually recover.

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