Closing arguments are set for Wednesday in the New York fraud trial of Frank founder Charlie Javice. Federal prosecutors allege that Javice tricked JPMorgan Chase into paying $175 million for her financial aid website by using fake data. Javice claimed that Frank had over 4 million student users, a figure that raised suspicions among her colleagues. Prosecutors say that when JPMorgan asked for verification, Javice provided a fabricated spreadsheet with 4,265,085 rows of synthetic data, created by an outside company for $18,000. The deal closed in September 2021, and Javice received an immediate $21 million, along with a half-million-dollar annual salary and bonus package. After the merger, JPMorgan’s marketing campaign using the data resulted in only 10 people signing up for a Chase checking account, leading to an internal investigation and the shutdown of the Frank website. Javice and her top executive, Olivier Amar, were fired and subsequently sued by JPMorgan. Javice’s defense argues that JPMorgan was more interested in acquiring Javice herself rather than the data, and that the bank misunderstood the nature of the user figures. The trial will determine whether Javice is seen as a genius or a swindler.