Former Frank executive, Olivier Amar, sentenced to over five years in prison for his role in defrauding JPMorgan Chase during the acquisition of his startup. He was deeply involved in creating fake customer data, misleading the bank into believing Frank had four million users instead of fewer than four hundred thousand. Amar also ordered to pay $223 million in restitution, including $54 million in legal fees. The company, aimed at simplifying college financial aid applications, is now defunct, highlighting the severe consequences of corporate fraud.

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