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JPMorgan ordered to keep paying Charlie Javice's legal bills, topping $70M
New York Post • • business
Key Points:
- A Delaware judge ruled that JPMorgan Chase must continue paying legal fees for convicted fraudster Charlie Javice, rejecting the bank's attempt to halt defense costs exceeding $70 million.
- The judge found JPMorgan failed to prove Javice's legal fees were "unmistakably unreasonable or clearly abusive," requiring the bank to advance $10.1 million in disputed fees for January to September 2025.
- JPMorgan also must continue funding $11.3 million in legal fees for Olivier Amar, Javice’s co-defendant, despite the bank’s objections to the high costs.
- JPMorgan criticized some legal expenses as extravagant, citing charges for items like luxury hotel upgrades, first-class airfare, and unusual personal expenses, which Javice’s representatives denied approving.
- The dispute involves JPMorgan’s obligation to advance legal fees under the terms of its 2021 acquisition of Javice’s startup Frank, with the court ruling this responsibility stands despite Javice’s criminal conviction and ongoing appeals.
