Charlie Javice Gets Seven Years for Defrauding JPMorgan (2)

Charlie Javice was sentenced to 85 months behind bars for defrauding JPMorgan Chase & Co. in its $175 million acquisition of her student-finance startup, Frank.

US District Judge Alvin Hellerstein handed down the sentence Monday in Manhattan federal court. Prosecutors had asked that Javice, 33, be given a 12-year sentence, but the judge seemed to take into account testimony concerning her good character.

“You’re a good person,” Hellerstein told Javice. “You’ve done a bad thing, and I have to punish you.” In addition to prison time, he ordered her to forfeit $22.4 million and to pay $287.5 million in restitution ...