"Founder of student aid startup Frank reacts to prosecutor's case against her"

The founder of student aid startup Frank, Charlie Javice, and the company's chief growth officer, Olivier Amar, have pleaded not guilty to criminal charges alleging that they tricked J.P. Morgan Chase into paying $175 million for their business by creating a fake data set that inflated their client base. Prosecutors claim that Javice and Amar misrepresented the number of customers Frank had, which was actually around 300,000 instead of the claimed 4 million. Javice's attorney argues that communications among J.P. Morgan Chase executives will support her innocence. The next pretrial hearing is scheduled for August 15.