Now, the 31 year old is accused of fraud for allegedly trying to lure Jp Morgan Chase.

So it would acquire her college financial planning start up for $175 million.

Abc's Chief business correspondent, Rebecca Jarvis has the details.

A prominent CEO in the tech world facing charges.

Former Forbes 30 under 30 Frank founder Charlie devise, accused of defrauding Jp Morgan of over $175 million.

Javi is charged with multiple counts of fraud and one count of conspiracy.

The justice department accusing Javi of falsely and dramatically inflating the number of customers of her company to fraudulently Jp Morgan Chase to acquire Frank for $175 million.

These are very serious charges.

When you look at wire fraud and mail fraud, they can carry up to 30 years for each count when you add securities fraud.

That's another 20 years per count.

In 2017, Javi founded Frank, a company that promised prospective students a simpler way to sign up for financial aid.

The idea soon catapulting Javi into the spotlight and on camera getting financial aid might seem really, really complicated.

But Frank, we've really simplified it for you.

The original promise of Frank was that it was going to help a whole bunch of lower income people in particular make it easier to file their federal financial aid forms.

But authorities say Javi faked data and repeatedly misrepresented numbers touting that the company had 4.25 million users who signed up for an account.

But the real number, according to prosecutors, less than 300,000 when Jp Morgan attempted to verify that information before buying the company devise, allegedly provided fabricated data.

A spokesman for Javi says she denies the allegations.

Chavis's lawyer, Alex Spiro declined to comment.

Rebecca Jarvis ABC News, New York.

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