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> Turns out those numbers might have been just a teeny bit exaggerated. On Tuesday Javice, 31, was charged by the justice department with “falsely and dramatica
by bambax 4y ago
> Turns out those numbers might have been just a teeny bit exaggerated. On Tuesday Javice, 31, was charged by the justice department with “falsely and dramatically inflating the number of customers of her company” in order to get JPMorgan Chase to buy it. According to the lawsuit, Frank only had about 300,000 clients and fabricated data to show a larger customer base. She enlisted a data scientist to make up a few million customers, basically, and JPMorgan, which has about 240,000 employees and pays its CEO $34.5m for his expertise, didn’t seem to spot this in its due diligence.
It's possible due diligence was performed, came out with reservations, and was ignored; if higher ups want to do a deal, they want to do a deal and that's that.
- willcipriano 4y agoThese type of people implicitly trust people in their caste. You know the phrase "its a club and you ain't in it?" They are all in the club.