Charlie Javice, the founder of a startup acquired by JPMorgan Chase for $175 million, was sentenced to over seven years in prison for defrauding the bank by overstating the number of customers the fintech firm had. Javice and her chief growth officer were found guilty of fraud and conspiracy to commit fraud. Despite expressing remorse and asking for forgiveness, Javice received an 85-month prison sentence, $22.36 million in forfeiture, and $287 million in restitution to JPMorgan. The court found that Javice had inflated the number of customers using synthetic identities before the acquisition, leading to an embarrassing situation for JPMorgan as they failed to verify the actual number of customers before the purchase.