Attorneys for the 32-year-old startup founder had argued that the device would prevent her from teaching Pilates.

Federal prosecutors convinced a jury that Ms. Javice, along with one of her executives, had faked much of her customer list before selling her start-up, Frank, to the bank.

Charlie Javice, founder of Frank, a financial aid startup, has been convicted of defrauding JPMorgan Chase out of $175 million.