NEW YORK (Reuters) -Charlie Javice, the entrepreneur convicted for defrauding JPMorgan Chase into buying her college financial aid startup Frank for $175 million, should spend 12 years in prison for her crimes, U.S. prosecutors said.

In a filing late Monday night in Manhattan federal court, prosecutors said Javice's fraud reflected "her personal greed and ambition," involving sustained deception, obstruction and other hallmarks of the most serious white-collar crimes.

They also said the 33-year-old Javice has "utterly failed to grapple with her brazen conduct," having waited until September 12 to assume what she called "full responsibility" in a letter seeking leniency from the judge who will sentence her.

"Javice led an audacious and multifaceted criminal scheme built on sustained deceptive conduct," prosecutors said. "A sentence of time served or anything close to it, which appears to be what Javice seeks, would be woefully inadequate."

Lawyers for Javice did not immediately respond to requests for comment outside business hours.

Jurors convicted Javice in March on all four counts she faced: bank fraud, securities fraud, wire fraud and conspiracy.

Her sentencing is scheduled for September 29. Prosecutors also want Javice to forfeit $29.7 million and pay $300.9 million in restitution, including for JPMorgan's legal fees.

Javice founded Frank in 2017, and won praise for simplifying college financial aid for students and parents.

She became a rising star in finance, and appeared on Forbes magazine's "30 Under 30" list in 2019.

'LAPSE OF JUDGMENT," JAVICE'S LAWYERS SAY

JPMorgan bought Frank in September 2021, but found itself unable to email much of Javice's claimed customer base, and concluded she faked her customer list.

Prosecutors said Javice claimed to have 4.25 million customers, but the real number was closer to 300,000. JPMorgan Chief Executive Jamie Dimon called buying Frank a "huge mistake."

A 12-year sentence is shorter than the minimum 22 years recommended under federal guidelines, prosecutors said.

In a September 8 filing, Javice's lawyers requested a significantly shorter sentence, calling Javice's "lapse of judgment" an aberration in an otherwise law-abiding life.

They also downplayed her crimes, saying the impact on JPMorgan was "not consequential" given the bank's size.

In her letter to U.S. District Judge Alvin Hellerstein, who will sentence her, Javice said: "I accept the jury's verdict and take full responsibility for my actions. There are no excuses, only regret - I am truly sorry."

Javice's co-defendant Olivier Amar, who was Frank's chief growth officer, was convicted on the same counts as hers. His sentencing is scheduled for October 20.

The case is US v Javice et al, U.S. District Court, Southern District of New York, No. 23-cr-00251.