Reported about 20 hours ago
Olivier Amar, a key executive at the startup Frank, was sentenced to over five years in prison for defrauding JPMorgan Chase during its $175 million acquisition of the company. His conviction follows that of Charlie Javice, the startup's founder, who received a seven-year sentence. Amar was found to have played a significant role in creating false documentation about the company's customer base, misleading JPMorgan Chase into believing Frank had millions of clients. In addition to prison time, Amar was ordered to pay $223 million in restitution.
Source: YAHOO