On March 28, 2025, Acting U.S. Attorney Matthew Podolsky announced the convictions of Charlie Javice and Olivier Amar on charges related to a fraudulent scheme. The jury found them guilty of manipulating and misrepresenting data about their company, Frank, to benefit financially.
Javice, the company's founder and CEO, and Amar, the Chief Growth Officer, had claimed Frank possessed millions of customers, a significant exaggeration of the actual numbers. "Javice, the founder and CEO of Frank, falsely claimed that her company had millions of customers when, in reality, it had just a fraction of that number," Podolsky stated.
They deceived major financial institutions and managed to sell their business for $175 million based on this inflated data. "And while Javice and Amar may have thought that they could lie and cheat their way to a huge payday, their lies caught up with them, and they now stand convicted by a jury of their peers in federal court," commented Podolsky.
The judicial proceedings highlight the commitment of the acting U.S. Attorney’s Office to tackling financial fraud. "This Office will continue to pursue financial fraud aggressively and hold accountable those who put greed above honesty," Podolsky affirmed. He applauded the efforts of the prosecution team and law enforcement, saying, "I commend the career prosecutors of this Office and our law enforcement partners who worked tirelessly to bring this case to trial and secure today’s verdict."
As a result of their fraudulent actions, Javice and Amar "will now pay a steep price for their lies" as stated by Podolsky. This case serves as a reminder of the legal consequences of financial deceit.