JPMorgan vs. Charlie Javice: Legal Bills Gone Wild

JPMorgan Chase embroiled in a peculiar legal dispute with convicted startup founder Charlie Javice over exorbitant legal expenses. Javice, who served seven years for fraud related to her financial aid company Frank, sold it to JPMorgan for $175 million in 2021. Despite her conviction, a court ordered JPMorgan to cover her legal bills, with the bank already spending $60 million. The latest development involves JPMorgan seeking to halt an additional $18 million payment due to alleged abuse of the system with excessive charges, including lavish meals, alcohol, and even cellulite butter. Javices lawyers argue that the bank is scrutinizing a small portion of two years worth of bills, mostly already reviewed and paid. The case unfolds in Delawares Court of Chancery, raising questions about the extent of reimbursement disputes in high-stakes deals gone awry.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.