Episode 17: Four Million Fake Students — How Charlie Javice Sold Frank to JPMorgan
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Episode Details
Charlie Javice told JPMorgan Chase that Frank had 4.25 million student users. Chase paid $175 million. Months later, a marketing email to that list almost never arrived — and almost no one opened what did.
Former FBI Special Agent Kevin Barrows follows the trail from a Wharton-built FAFSA helper to a manufactured customer file, a rented broker list, and one of the costliest “user” buys in U.S. banking. Includes Deception Spectrum placement and a Lie Detector Tip on unverified scale.
Key beats: the 4.25M pitch vs ~300K real accounts • orange-jumpsuit file request • Kapelner synthetic rows • ASL list at ~2.3¢ a name • $175M close • disastrous email test • convictions • 85 months / restitution
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