Attorney for the United States, Acting Under Authority Conferred by 28 U.S.C. § 515, Amanda Houle announced that CHARLIE JAVICE was sentenced today to 85 months in prison for falsely and dramatically inflating the number of customers of her company, Frank, to fraudulently induce J.P. Morgan Chase (“JPMC”) to acquire Frank for $175 million.  JAVICE and her co-defendant, OLIVIER AMAR, were convicted of conspiracy, wire fraud, bank fraud, and securities fraud following a six-week jury trial in March 2025.

Beware of scams impersonating FDIC/OIG Personnel. Scammers might use the FDIC or FDIC OIG’s seal or logo to make their demand for funds appear to look legitimate. 

We engaged Sikich CPA LLC (Sikich) to conduct a performance audit of security controls for a cloud platform and application.

This memorandum presents the results of our audit of the Federal Deposit Insurance Corporation’s (FDIC) Significant Service Provider (SSP) Examination Program.Our objective was to determine the effectiveness of the SSP Examination Program in evaluating the risk exposure and risk management performance of SSPs and determining the degree of supervisory attention needed to ensure weaknesses are addressed and risks are properly managed.

The OIG has posted two alerts and a video highlighting the dangers of Pig Butchering Schemes—both to consumers and banks alike.