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She Defrauded the Bank. It's Still Paying Her Legal Fees
Newser • • business
Key Points:
- JPMorgan Chase must continue paying legal fees for entrepreneur Charlie Javice, despite her conviction for defrauding the bank, according to a Delaware judge's ruling.
- Javice was convicted of misleading JPMorgan into purchasing her education startup, Frank, using falsified data, resulting in an 85-month prison sentence.
- JPMorgan has incurred $144.2 million in defense costs for Javice and co-executive Olivier Amar, nearly equal to the startup's purchase price, and argued these expenses are excessively high.
- The court ruled that JPMorgan is contractually obligated to cover these legal fees during the dispute, a decision Javice's team supported, while JPMorgan disagrees and is considering further action.
- The legal expenses include unusual charges such as hotel upgrades, gummy bears, and a seafood tower.
