Swindled 123. The Acquisition (Charlie Javice)
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Apr 6, 2025 Explore the dramatic rise and fall of a fintech startup founder accused of defrauding JPMorgan Chase to secure a massive acquisition deal. Discover how misleading data and unethical practices led to her downfall and the legal fallout that ensued. The episode delves into the broader implications for the startup world, touching on the challenges female entrepreneurs face and questionable ethics in the pursuit of success. Through engaging narratives, it unpacks both the ambition and the perils of the financial technology landscape.
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All Here's Rise
- Joanna Smith Griffin founded All Here, an ed-tech startup, to combat chronic absenteeism using AI chatbots.
- Initially funded with her savings, the company secured millions in venture capital and scaled to thousands of schools.
Financial Deception
- Smith Griffin falsified All Here's financials, reporting inflated revenue and customer numbers to investors.
- She used the ill-gotten funds for personal expenses, including a house and a wedding.
Downfall and Bankruptcy
- When Silicon Valley Bank collapsed, Smith Griffin falsely claimed All Here's cash was trapped, securing loans from board members.
- An internal investigation revealed further fraud, leading to her removal as CEO and the company's bankruptcy.