Course Description

When Charlie Javice sold her startup, Frank, to JPMorgan for $175 million, she was hailed as a fintech wunderkind helping millions of students navigate the complex FAFSA application. The reality: Frank had roughly 300,000 customers, not the 4.25 million she reported — a gap she filled by paying a data scientist $18,000 to fabricate synthetic accounts days before the deal closed. Through the fraud risk triangle framework, this course examines how Javice's compelling profile and JP Morgan's competitive rush led to critical due diligence failures, the red flags that should have exposed the scheme, and why perpetrators like Javice — described by an FBI agent as "optimists who think like gamblers" — believe they won't get caught.

Learning Objectives

  1. Identify the elements of the fraud risk triangle and recognize how weak internal controls at JP Morgan created the opportunity for Charlie Javice's acquisition fraud
  2. Analyze due diligence failures — including unverified customer data, overlooked acquisition cost discrepancies, and competitive pressure — that enabled a $175 million fraud
  3. Evaluate red flags in startup acquisitions, such as inflated customer metrics, synthetic data fabrication, and time pressure tactics designed to bypass verification controls

Instructors

Garth Sheriff, CPA, CA, CPA (Illinois), CIA, CGMA, MAcc, is the founder of Sheriff Consulting. Sheriff Consulting provides continuing professional education (CPE) courses in leadership, communication, and assurance. Garth has worked as an assurance professional and learning provider for over 20 years. Garth has also acted in various stage and film productions. He is a graduate in improvisation from The Second City and a member of ACTRA (the Alliance of Canadian Cinema, Television and Radio Artists).

Josh Sager is the co-host of The Fraud Complex podcast and brings a unique perspective to fraud education through his background in storytelling and media production. Josh collaborates with Garth Sheriff to examine fraud cases through an accessible, narrative-driven approach that helps professionals understand the human elements of fraud schemes.

Course Information

Course Title: Professional Ethics: Charlie and the Fraud Factory

Estimated Total CPE: 1.0

Field(s) of Study: Behavioral Ethics

Delivery Method: QAS Self-Study

Program Level: Basic

Prerequisites/Advanced Preparation: None

Enrollment Period/Expiration Date: One year from date of purchase

Date of Last Program Review/Update: 2/13/2026

Refund Policy/Complaint Resolution Policy: Our policies can be found in our FAQ

Assessment Requirements:

To earn CPE credit, participants must successfully complete the qualified assessment with the following minimum passing grades:

Self-Study (0.5 CPE or higher): 70% cumulative passing grade

Nano Learning (0.2 CPE): 100% passing grade

Participants who do not achieve the required passing grade may retake the assessment in accordance with sponsor policy.

Course curriculum

    1. Instructions for QAS Self Study

    2. Course Overview

    3. Glossary of Key Terms

    1. The FAFSA Problem and the Birth of Frank

      FREE PREVIEW

    2. Review Question 1

    1. Charlie Javice’s Entrepreneurial Rise

    2. Review Question 2

    1. The JP Morgan Acquisition, Fraud, and Consequences

    2. Review Question 3

    1. Final Assessment: Personal Lessons in Fraud

About this course

  • $75.00
  • 10 lessons
  • 1 hour of video content

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