Frank fraud
In 2021 JPMorgan Chase paid $175 million for Frank, a New York student-aid startup, relying on a claim that it had more than four million users. A jury convicted its founder and an executive of fraud in 2025.
- Theranos fraud
Investors put hundreds of millions of dollars into a finger-prick blood-testing promise; in 2022 the founder was convicted of defrauding them.