When JPMorgan acquired Charlie Javice‘s start-up Frank for $175 million in 2021, it agreed to pay her legal fees if she got in trouble. Then she got into trouble. Javice told the bank she had millions of customers, but she’d faked a big part of her customer list.
She was convicted of fraud in September and sentenced to 85 months in prison. Now JPMorgan is fighting to stop paying her legal costs after her 147-member legal team racked up questionable expenses, including $529 in gummy bears, a $581 dinner for two, nearly $1,000 in laundry fees, a Cookie Monster toy and 57 hotel room upgrades at $300 each.
JPMorgan is asking a Delaware judge for permission to cut her off, citing “blatant disdain” and “unchecked billing practices.” The bank said Javice had asked for over $43 million for one law firm alone, with 29 lawyers in the courtroom at one point during her trial.
Read more
When JPMorgan acquired Charlie Javice‘s start-up Frank for $175 million in 2021, it agreed to pay her legal fees if she got in trouble. Then she got into trouble. Javice told the bank she had millions of customers, but she’d faked a big part of her customer list.
She was convicted of fraud in September and sentenced to 85 months in prison. Now JPMorgan is fighting to stop paying her legal costs after her 147-member legal team racked up questionable expenses, including $529 in gummy bears, a $581 dinner for two, nearly $1,000 in laundry fees, a Cookie Monster toy and 57 hotel room upgrades at $300 each.
JPMorgan is asking a Delaware judge for permission to cut her off, citing “blatant disdain” and “unchecked billing practices.” The bank said Javice had asked for over $43 million for one law firm alone, with 29 lawyers in the courtroom at one point during her trial.
Read more
Read the full article here
