By Walt Hickey Whoops JP Morgan is suing a 30-year-old founder of a fintech company they bought for $175 million in September of 2021, alleging a shocking amount of fraud during the due diligence process. In the suit, JP Morgan alleged that the company — which was called Frank, a company purporting to improve the process of applying for student loans — overstated and faked the number of users it actually had. JP Morgan said Frank pitched it as having 4 million users. During due diligence, the founder is alleged to have created a roster of 4.265 million names, addresses, birthdates and customer information for people that didn’t actually exist to cover up for the reality that the company had less than 300,000 accounts. JP Morgan alleged that when an engineer refused to make a list of fake customers, she