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Eight people and six companies have been charged in a series of indictments with pervasive fraud in the construction industry, according to Manhattan DA Alvin Bragg Jr. Eight people and six companies have been charged in a series of indictments with pervasive fraud and corruption in the construction industry, motivated by “greed at all costs," Manhattan District Attorney Alvin Bragg Jr. said Tuesday while announcing the indictments. The defendants allegedly deceived government agencies that award projects to minority and women-owned Business es (MWBE). The Manhattan District Attorney's Office is charging the drywall and carpentry company JM3 Construction, its owner Lawrence “Larry” Wecker, project manager Michael Speier, and other co-conspirators for allegedly taking part "in multiple criminal scheme s to increase their Business and revenues to the detriment of their workers and fair com Pet ition within this industry," Bragg said. MORE: What to know about Manhatt...

Criminal fraud charges were unsealed this week against Charlie Javice, formerly CEO of the student loan assistance platform Frank. When JPMorgan Chase announced two years ago that it would purchase Frank, a startup college financial planning company for students, the global banking giant said that by acquiring the apparently popular platform for $175 million it hoped to strengthen its relationship with millions of young people. But JPMorgan and federal authorities now believe there was a big problem: Many of the millions of students said to be using Frank never existed. The Department of Justice filed criminal fraud charges, which were unsealed Tuesday, against Javice, Frank's founder and former CEO, alleging she "engaged in a brazen scheme" when she sold her company to JPMorgan Chase in 2021. The Securities and Exchange Commission separately announced its own fraud complaint against Javice on Tuesday, seeking a variety of punishments including civil penalties and a ban...