Digest opened free editor

Rola Khaleda, FT editor, chooses her favorite stories in this weekly newsletter.

The alleged document of JPMorgan Chase with public prosecutors will be a major focus in the defense strategy for a young businessman, Charlie Gavis, is scheduled to be tried this week for the criminal charges that the American bank has urged to purchase its company.

The Javis defense team maintains that the lender was mainly felt the regret of the buyer, and the government took advantage of the commercial conflict into a criminal case. Javica31, he was arrested two years ago on charges of defrauding Selling $ 175 million to Jpmorgan In 2021, her company, Frank, who supported students applying for financial assistance.

Its legal team accused JPMorgan of practicing the tremendous power of the prosecutors in its achievement, claiming that this coordination had preceded the bank’s lawsuit against Javis for fraud.

“The government has worked closely with the JPMC, despite the bank’s reputing share in the results of the case as the acquisition,” the Javis team claimed in a file last month.

In the Disnah file, the prosecution argued that he “made a wide independent and independent investigation of allegations in this case” and accused the Javice team of claiming “Smorgasbord of the government’s misconduct.”

New York Javis’s prosecutors and the participant, Olivier Ammar, the chief of the former franc growth official, accuse the world of data to manufacture accounts to show 4.25 million users when Frank’s actual number was 90 percent less. The trial is scheduled to start on February 18.

Ammar’s lawyer, who denied all violations, did not respond to the requests for comment.

“There will be a strong defense and some surprises,” said Javis’s legal team spokesman, led by Jose Bayz, who represented Harvey Winstein.

“Google research and focus on the time frame in July 2021 and I think you will find about twenty articles of all kinds about Frank and Charlie talking about its users registered in several hundred thousand. There was in public places.”

Javis’s defense may depend on distinguishing how the student was defined as “subscribed” – Business Insider stated in July 2021 that she told the post Frank “serving more than 5 million families.

The issue will scrutinize one of the most embarrassing episodes in the history of the last JPMorgan – while the deal was illogical for a bank that achieved nearly $ 60 billion in profits last year, CEO Jimmy Damon, who made his name partial for his deals, described it as it “A big mistake.”

It also renewed the interest on the Carisimid founders who promised them with revolutionary companies, after prominent fraud experiments on Elizabeth Holmes and Sam Bantan Farid and Trivor Milton. All of them were later convicted and were sentenced to several years in prison.

Representatives of the prosecution found texts between Javis and Omar discussed the condemnation of Holmes, the founder of the Thuranos Blood Test Company. Javis wrote to Ammar Holmes: “We hope that the light judgment will be.” You must blame investors for allowing a 19 -year -old player with a rival. “

Javis began what became known as Frank in 2017, four years after the graduation of the University of Pennsylvania. The website offered to help university students apply for financial help.

Frank eventually attracted funding from ALPH, the Israeli Investment Capital, as well as Apollo Global Management, a Pennsylvania graduate. Javis has appeared on the podcast to promote Frank to middle and low -income families seeking to send their children to the college.

Jpmorgan sought Frank to his relationship with the younger Americans who can sell banking products. Public prosecutors claimed that Javis managed a plan to make her company seem to have a more important mass for a possible temptation.

The Investment Bank, LionTree, conducted an auction in 2021 in favor of Frank, amid public and private market assessments. JPMorgan executives indicated that the company’s evaluation was supported by Frank users who believed that JPMorgan was in millions.

“What we deserve is a small part of the purchase price,” What we buy is a team, a trademark, a algorithm, represented by JPMorgan to another about the Finlland project, the internal code name Code the The The The The The The The The The The The The The The The The The The The The The The The The The The The The The The The The The A, the Code the The The The The The The The The The The The The The The The The The The The The The The The The The The The The The The The The The The The The The The The The The The The A, the Bank of the Frank

JPMorgan Javice paid $ 21 million for her Frank share, with a $ 20 million retaining bonus offered.

Since her arrest in April 2023, Javis became free with a bail of $ 2 million, guaranteed against her apartment in Miami. The court approved its request to remove the ankle screen so that it can follow a job as a fitness coach.

JPMorgan filed a separate civil lawsuit against Javis. The trial is expected to continue the four weeks.