Core Viewpoint - Apollo Global Management CEO Marc Rowan has urged leniency in the sentencing of Charlie Javice, who was convicted of defrauding JPMorgan Chase in a $175 million acquisition deal for her startup, Frank [1][2]. Group 1: Background of the Case - Charlie Javice was convicted in March for lying and faking data to mislead JPMorgan into believing her company had over 4.25 million users, while it actually had fewer than 300,000 [3]. - The estimated loss from Javice's fraud is around $200 million, which her lawyers argue is "not consequential" for a bank of JPMorgan's size [5]. Group 2: Support for Javice - Marc Rowan, who was an investor and board member at Frank, highlighted Javice's positive traits such as passion, creativity, intelligence, and empathy in his letter to the judge [2]. - Over 100 letters of support have been filed for Javice, including one from former JPMorgan executive Blythe Masters, who served as a mentor to her [4]. Group 3: Sentencing Details - Javice is scheduled to be sentenced on September 29, and court staff have indicated that she may receive a prison term of around 12 years [4].
Apollo’s Rowan Urges Leniency for Javice in JPMorgan Fraud Case