JPMorgan shutters website it paid $175 million for, accuses founder of inventing millions of accounts
Publishing timestamp: 2023-01-12 14:18:57
Summary
JPMorgan Chase shut down the website of a college financial aid platform it bought for $175 million after alleging the company's founder created nearly 4 million fake customer accounts. JPMorgan said it learned the truth about the founder after sending out marketing emails to a batch of 400,000 customers. The founder has sued JPMorgan, saying the bank should front her legal bills. JPMorgan shut down the website early Thursday morning.
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Keywords: investment strategy, fintech, breaking news: investing, banks, jpmorgan chase & co, jamie dimon, venture capital, business news, technology, breakingnewsglobal, breaking news: markets,
Source: https://www.cnbc.com/2023/01/12/jpmorgan-chase-shutters-student-financial-aid-website-frank.html