When Charlie Javice was convicted of defrauding JPMorgan in the $175m (£130m) acquisition of her fintech company Frank, the headlines told a familiar tale: another charismatic founder exposed, another high-profile deal turned cautionary case study.

But beneath the courtroom drama lies a deeper, more troubling reality. This was not simply the story of a founder manipulating spreadsheets. It was the latest and loudest signal that something fundamental is broken in how due diligence in private equity deals is being done, especially with a lack of critical thinking taking place around product.