{"id":228033,"date":"2025-09-15T06:14:09","date_gmt":"2025-09-15T06:14:09","guid":{"rendered":"https:\/\/www.europesays.com\/us\/228033\/"},"modified":"2025-09-15T06:14:09","modified_gmt":"2025-09-15T06:14:09","slug":"marc-rowan-writes-letter-supporting-penn-alum-charlie-javice-urges-lenient-sentence-in-fraud-case","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/228033\/","title":{"rendered":"Marc Rowan writes letter supporting Penn alum Charlie Javice, urges \u2018lenient sentence\u2019 in fraud case"},"content":{"rendered":"

\t\t\t\t\t
\n\t\t\t\t\t\t\"marc-rowan-charlie-javice-photos-courtesy-of-wharton\"\/
\n\t\t\t\t\t<\/a><\/p>\n

1984 Wharton graduate Marc Rowan (left) filed a letter asking the U.S. district judge to consider 2013 Wharton graduate Charlie Javice\u2019s (right) \u201cfull character\u201d when passing a sentence (Photos Courtesy of the Wharton School).<\/p>\n

Prominent Penn alumnus Marc Rowan sent a letter of support to United States District Judge Alvin Hellerstein ahead of 2013 Wharton graduate Charlie Javice\u2019s Sept. 29 fraud sentencing.\n<\/p>\n

In March, Javice was found guilty<\/a> on all charges of fraud and conspiracy in JPMorgan Chase\u2019s $175 million acquisition of her startup, Frank<\/a> \u2014 and currently faces a possible three decades-long prison sentence. As the sentencing date approaches, the defense has filed letters<\/a> written by individuals close to Javice asking Hellerstein to consider Javice\u2019s \u201cfull character\u201d in the court\u2019s final decision.\n\t\t<\/p>\n

Rowan \u2014 who serves as the chair of the Wharton School\u2019s Board of Advisors \u2014 sent his letter to Hellerstein on Sept. 11, writing that he hoped to \u201coffer a more complete picture of who Charlie is as a person.\u201d\u00a0\n<\/p>\n

Rowan declined a request for comment.\n\t\t\t\t<\/p>\n

\u201cI was impressed by Charlie\u2019s passion, creativity, intelligence and hard-work to develop the educational platform that grew into Frank,\u201d Rowan wrote in the letter. \u201cI became an early investor in Frank (in my personal capacity) and also became a board member. I watched Charlie grow as a young, creative and dedicated entrepreneur.\u201d\n<\/p>\n

In 2018, Javice told<\/a> The Daily Pennsylvanian that Rowan served as Frank\u2019s lead investor.\u00a0\n\t<\/p>\n

In the letter, Rowan highlighted his role as CEO and chair of the board of Apollo Global Management, writing that he invested in Javice because \u201cshe was hard working, thoughtful, humble and creative.\u201d\n<\/p>\n

Rowan cited Javice\u2019s activity as a special advisor to the Wharton Social Impact Initiative programs during \u201ccollege years at the University of Pennsylvania.\u201d He wrote that her \u201cthoughtful commitment to this mission\u201d was one of the reasons he \u201cdecided to invest with her.\u201d\n<\/p>\n

He also emphasized Javice\u2019s \u201cresilience, intelligence and dedication to helping people in need,\u201d adding that she has remained a \u201cpositive and upbeat person through these challenging past years.\u201d\n<\/p>\n

In March, Rowan testified<\/a> as a defense witness and expressed similar sentiments.\u00a0\n<\/p>\n

Javice also mentioned her \u201cresilience\u201d in her own letter <\/a>to Hellerstein, dated Sept. 12.\n<\/p>\n

\u201cThese last five years have been defined by pain and loss\u2014of my company, my career, my reputation, and many friendships,\u201d Javice wrote. \u201cAs the day of my sentencing grows near, I am sustained by hope\u2014hope that has been tested but never broken, and embodied in the words of Golda Meir: \u2018Pessimism is a luxury that a Jew can never allow himself.\u2019\u201d\n<\/p>\n

Javice will be sentenced in two weeks at the Daniel Patrick Moynihan United States Courthouse in the Southern District of New York.\n<\/p>\n

She also noted that her letter\u2019s intent is not to seek \u201cforgiveness or to erase the seriousness of the past,\u201d but for a \u201cchance to rebuild\u201d so that she can \u201clearn, grow, and do better every day.\u201d\n<\/p>\n

Rowan similarly expressed confidence in Javice\u2019s personal character.\n<\/p>\n

\u201cI feel she will make many meaningful contributions to society moving forward,\u201d he wrote. \u201cI respectfully ask that you impose a lenient sentence.\u201d\n<\/p>\n

The letters of support come after a five-week trial \u2014 which began in February and concluded on March 28 in New York \u2014 that investigated Javice and her partner, Olivier Amar, for their involvement in falsifying records that exaggerated Frank\u2019s customer base tenfold in order to secure the company\u2019s acquisition.\u00a0\n<\/p>\n

JPMorgan filed a lawsuit<\/a> against Javice in December 2022 \u2014 one month after firing her<\/a>. The bank alleged that Javice lied about the number of customers her startup had, claiming she created over 4 million fake user accounts. According to the lawsuit, Frank had fewer than 300,000 actual users.\n\t\t<\/p>\n

\t\t\tSign up for our newsletter<\/p>\n

Get our newsletter, DP Daybreak, delivered to your inbox every weekday morning.<\/p>\n

In 2018, Frank settled<\/a> with the federal government over accusations that the startup was misrepresenting its ties to the Department of Education.\n<\/p>\n

Two years later, bipartisan members of Congress wrote a letter<\/a> to the Federal Trade Commission claiming that Frank was creating confusion for students by advertising a nonexistent universal application for COVID-19 pandemic-era student relief funds.\u00a0\n<\/p>\n

Javice countersued<\/a> JPMorgan in 2023, claiming that 4 million users did go on Frank\u2019s website to read articles about financial aid processes. She did not dispute that less than half a million users used the platform to complete financial aid forms.<\/p>\n

The Daily Pennsylvanian is an independent, student-run newspaper. Please consider making a donation<\/a> to support the coverage that shapes the University. Your generosity ensures a future of strong journalism at Penn.<\/p>\n

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