Federal prosecutors convinced a jury that Ms. Javice, along with one of her executives, had faked much of her customer list before selling her start-up, Frank, to the bank.

Charlie Javice, the charismatic founder of a startup company that claimed to be revolutionizing the way college students apply for financial aid, was convicted Friday of defrauding one of the world's largest banks,

The 32-year-old was accused of lying about the number of customers her startup had before selling it for $175 million.

Charlie Javice was found guilty of defrauding JPMorgan Chase & Co. in its $175 million acquisition of her student-finance startup, Frank, following a six-week trial.

Charlie Javice, the founder of the student aid startup Frank, has been convicted of defrauding JP Morgan Chase of $175 million. The 32-year-old entrepreneur was found guilty on three counts of fraud and one count of conspiracy to commit fraud.