Charlie Javice, who was convicted as the founder of Frank, is reportedly seeking a presidential pardon. Her efforts include discreetly reaching out to individuals connected to the Trump administration, as reported by the WSJ. However, the Justice Department has not yet received her name on the formal clemency request list, the report states.
This list is rapidly expanding. As the administration considers granting around 250 pardons this summer in celebration of America’s 250th anniversary, there has been a surge in clemency applications from individuals involved in white-collar crimes, such as Sam Bankman-Fried.
JPMorgan is unlikely to be pleased with these developments. In September, Javice was convicted of creating fake customer accounts to increase her startup’s valuation before selling it to the bank for $175 million. She is currently serving a sentence of over seven years and is appealing the verdict, claiming it was unjust.
The bank’s concerns may be heightened due to its history with President Trump. In early 2021, JPMorgan closed accounts associated with Trump and his businesses shortly after the Capitol riot on January 6. Trump labeled this action as political “debanking” and has sued JPMorgan and CEO Jamie Dimon for $5 billion. (JPMorgan denies any political motives behind their decision.)
Javice also has influential allies, including Marc Rowan from Apollo, an early investor in Frank who testified on her behalf during the trial. Rowan has contributed to Trump’s campaigns and, following Trump’s reelection, has donated millions more to Republican congressional groups.
