Charlie Javice, the founder of the student financial aid platform Frank, is reportedly seeking a presidential pardon from former US President Donald Trump. Sources close to the Trump administration suggest that discussions are quietly taking place, though her name has not yet appeared on any formal clemency request list at the Justice Department, according to reports from the Wall Street Journal.
Javice was convicted last September of defrauding JPMorgan by fabricating millions of customer accounts to artificially inflate Frank's value before selling the company to the bank for $175 million. She is currently serving a sentence of over seven years and is appealing her conviction, arguing that the case against her was unfair.
This development could prove particularly contentious for JPMorgan. The bank closed accounts associated with Trump and his businesses in early 2021, shortly after the Capitol riot. Trump subsequently labelled this action as political 'debanking' and initiated a $5 billion lawsuit against JPMorgan and its CEO, Jamie Dimon, a claim the bank denies had any political motivation.
The pursuit of a pardon by Javice is set against a backdrop of increasing clemency requests from white-collar defendants. As the US reportedly prepares to issue approximately 250 pardons this summer to mark the nation's 250th birthday, a surge of applications is being observed, including from figures such as Sam Bankman-Fried.
Javice reportedly has influential allies, including Marc Rowan, an early investor in Frank and CEO of Apollo Global Management. Rowan testified on Javice's behalf during her trial and has been a significant donor to Trump's political campaigns, contributing millions to Republican congressional groups since Trump's re-election efforts.