Frank (company)

TAPD Inc.

File:Frank (company) logo.jpeg
Trade name	Frank
Company type	Private
Industry	Technology
Founded	2016 (2016)
Founder	Charlie Javice
Defunct	Template:End date and age
Headquarters	New York City
Parent	JPMorgan Chase
Website	frankfafsa.com (archived) withfrank.org (archived)

Frank was a U.S.-based online platform designed to assist students in swiftly completing their FAFSA federal student aid forms. Operating under the corporate name TAPD Inc., it was established in 2016 by Charlie Javice, then 24 years old, who asserted that the platform condensed over 100 FAFSA questions into a matter of minutes.

In September 2021, JPMorgan Chase acquired Frank for $175 million. By December 2022, JPMorgan initiated legal action against Javice and Frank’s chief growth officer, Olivier Amar, accusing them of inflating the user base by approximately fourteen times. The Frank website ceased operations in January 2023. Subsequently, in April 2023, Javice and Amar faced federal indictments on multiple charges including securities fraud, wire fraud, and bank fraud. Both individuals were convicted on all allegations in March 2025.

History

Founded in 2016 by Charlie Javice, an alumnus of the Wharton School at the University of Pennsylvania, Frank was created with the goal of alleviating student loan burdens. In 2017, Adi Omesy, co-founder and chief technology officer, filed a lawsuit against Javice and Frank citing disputes over unpaid wages and equity; the court awarded him $35,000.

Initially operating under the domain , the company removed "FAFSA" from its web address in 2018 following a settlement with the United States Department of Education, which owns the trademark. Afterward, it adopted .

Frank secured $10 million in funding during January 2018 from investors such as Lemonade, WeWork, Bradley Tusk, and Apollo Global Management co-founder Marc Rowan. At that point, the firm employed eighteen full-time personnel based in both the United States and Israel. Javice gained accolades including placement on Forbes 30 Under 30 as well as Crain's New York Business 40 Under 40 lists.

Website capabilities

Frank's digital platform simplified the FAFSA submission, allowing students to fill out applications efficiently. In addition to FAFSA assistance, the site offered tools to locate scholarships and budget-friendly college courses. The service was provided at no cost, with optional premium memberships granting users access to Frank's financial advisory team and interest-free advances up to $5,000 to cover tuition and educational expenses while awaiting aid approval. Frank also supported students in contesting financial aid determinations.

In November 2020, the U.S. Federal Trade Commission issued a cautionary notice to Frank, raising concerns that its support largely consisted of supplying a generic letter that might omit critical details required for grant applications.

JPMorgan Chase acquisition in 2021

During the summer of 2021, Javice began discussions with JPMorgan Chase regarding a potential acquisition. By September 2021, JPMorgan completed the purchase of Frank for $175 million, aiming to enhance its connection with college students as prospective clients. Javice remained as Frank’s CEO and took on the role of head of student solutions within JPMorgan’s digital products division.

The acquisition incorporated fifteen Frank employees at multiple organizational levels. As part of the agreement, Javice received stock valued at over $9 million alongside a $20 million retention incentive.

Legal proceedings

In December 2022, JPMorgan Chase filed a lawsuit against Frank’s founder Charlie Javice and chief growth officer Olivier Amar, accusing them of fraudulently creating millions of fictitious student accounts to exaggerate the company’s user metrics. The complaint, lodged in federal court in Delaware, asserted that Javice reported 4.25 million users despite the actual figure being below 300,000. It further alleged they compensated a data-science academic $18,000 to fabricate user data and acquired a list containing 4.5 million student names from a marketing agency.

JPMorgan discovered the fraudulent data during an email marketing campaign when more than 70% of emails bounced back undelivered. Subsequently, the U.S. Securities and Exchange Commission charged Javice with fraud in the Southern District of New York. Javice was taken into custody in April 2023 and has denied all accusations.

In retaliation, Javice initiated a wrongful termination lawsuit against JPMorgan following her dismissal in November 2022, seeking reimbursement for legal fees incurred defending internal probes and alleging breaches of student privacy regulations. In May 2023, a Delaware court ordered JPMorgan to pay her legal expenses.

JPMorgan discontinued the Frank website operations in January 2023. In July 2023, both Javice and Amar faced charges including wire fraud, bank fraud, securities fraud, and conspiracy. On March 28, 2025, they were convicted on all counts.

Court testimony revealed that Javice directed a professor to produce artificial data inflating user numbers during JPMorgan’s due diligence review. On September 29, 2025, Javice received an 85-month prison sentence; Amar was sentenced to 68 months on November 5, 2025.