JPMorgan's 175 Million Dollar Mistake: Paying the Price?

JPMorgan is battling to stop paying the skyrocketing legal bills of convicted fraudster Charlie Javice, who tricked them into buying her startup, Frank, for $175 million. Despite her conviction and 7-year prison sentence, a contract clause forces JPMorgan to cover her defense, now exceeding $115 million. The bank calls the fees egregious and is fighting back, arguing Javice's multiple law firms are running up duplicative charges and treating the contract like a blank check. With appeals ongoing and high-profile lawyers involved, this case could set a precedent for who foots the bill when business deals turn sour.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.