- A jury has been selected for the trial of Charlie Javice in Manhattan.
- Prosecutors say Javice defrauded JPMorgan Chase.
- Jurors were asked if they knew Jamie Dimon or ran start-up businesses.
A jury was selected and opening statements began Thursday in the trial of Frank founder Charlie Javice.
Prosecutors say Javice and her former colleague Olivier Amar defrauded JPMorgan Chase by lying about the success of Frank, a startup she launched to help students apply for college financial aid.
Jury selection in lower Manhattan’s federal court spanned Wednesday and most of Thursday. Before being selected, jurors were questioned at hushed sidebars about their personal lives, including whether they had ever worked in finance, been a victim of fraud, or had close personal or business relationships with people like Jamie Dimon, the CEO of JPMorgan Chase.
Some prospective jurors were excused after sharing that they worked for JPMorgan or other banks. Another was excused after saying she enjoyed watching shows about scams and thinking about the psychology that motivates fraudsters.
“This is not an easy procedure. It was difficult. It took longer than I expected,” federal Judge Alvin K. Hellerstein said after the 12 jurors and 4 alternates had been selected on Thursday.
The jury and its alternates include people who told the judge they work in sales management and IT, as well as some who work for the city of New York. Others work in healthcare or have no job.
Throughout the voir dire process, Javice — dressed in a blouse and pencil skirt — smiled in the direction of jurors and took frequent notes. She appeared personable and chatted with the attorneys on each side of her, playing with her hair while talking.
Opening arguments begin after lunch.
JPMorgan Chase paid $175 million to acquire Frank in 2021, keeping Javice and Amar on as the first and second in command and giving them lucrative compensation packages.
Despite the former executives’ claims that Frank had more than 4 million users, the federal government said Javice was “falsely and dramatically inflating the number of customers of her company” to lure JPMorgan Chase into the acquisition.
This story is developing. Please check back for updates.
