Tag: Baba Nadimpalli

The U.S. national Charlie Javice, founder of college financial aid startup Frank, was convicted on March 28, 2025, on four felony counts: securities fraud, wire fraud, bank fraud, and conspiracy. The Manhattan federal jury found that Javice deceived JPMorgan Chase into acquiring Frank in 2021 by inflating its user base from 300,000 to 4.25 million, fabricating customer lists, and directing staff to falsify data.

The SEC has charged Baba Nadimpalli, the CEO of SKAEL Inc. This San Francisco-based private technology company developed business automation software, with defrauding investors out of $30 million by falsifying revenue data and customer relations. He allegedly forged bank statements to show nonexistent payments and spent hundreds of thousands of dollars of SKAEL’s money on his own personal expenses.