Charlie Javice and Olivier Amar convicted of federal fraud

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Edward Y. Kim Acting United States Attorney | Official Website

Charlie Javice and Olivier Amar convicted of federal fraud

A federal jury has found Charlie Javice, the founder and CEO of Frank, and Olivier Amar, the Chief Growth Officer, guilty of committing fraud. Javice misled financial institutions by claiming Frank had millions of customers, when in fact the numbers were significantly lower. Javice and Amar proceeded to sell their company for $175 million under these false pretenses.

Acting U.S. Attorney Matthew Podolsky commented on the case: “Today, a unanimous jury found Charlie Javice and Olivier Amar guilty of orchestrating a brazen fraud… 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.”

Podolsky emphasized the commitment of his office to pursue financial fraud, stating, “This Office will continue to pursue financial fraud aggressively and hold accountable those who put greed above honesty. 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. Thanks to their efforts, Javice and Amar will now pay a steep price for their lies.”