'CLOSE COORDINATION'

Indicted Tech CEO Says Feds ‘Outsourced’ Probe to JPMorgan

As the 31-year-old entrepreneur fights federal fraud charges, she's claiming the bank's close ties to federal prosecutors are hindering her defense.

Fintech wunderkind Charlie Javice, who is facing federal charges and a civil suit for allegedly duping JPMorgan into buying her financial aid company for $175 million, is accusing prosecutors of working “hand-in-glove ” with the bank and allowing it to “cherry-pick” documents in the criminal probe. Javice’s attorney Alex Spiro stated in a legal memorandum filed Friday that “there are likely thousands of documents” JPMorgan failed to hand over and suggested that the feds have “outsourced” their investigation to the bank. Spiro also argued that the Manhattan U.S. Attorney’s Office and JPMorgan are in “extraordinarily close coordination” and seem to be working to block Javice from obtaining “potentially exculpatory materials,” including Slack chats. As The Daily Beast previously reported, Javice and another executive, Olivier Amar, are accused of falsifying user data for their firm, Frank Financial Aid, ahead of the JPMorgan merger.