"Javice was sentenced to more than seven years in prison in September, following a fraud conviction. In 2021, JPMorgan acquired Javice's startup Frank, which Javice claimed assisted millions of people in completing their federal financial aid forms. On top of the $175 million JPMorgan spent on acquiring the fraudulent firm, the bank must also pay Javice's legal fees, due to a clause in its original contract with Javice indicating it is liable for her defense bill."
"Javice's seven-figure defense bill includes $530 spent on gummy bears, a $161 seafood tower, $710 spent at Eataly, and $347 on three charcuterie boards for an "afternoon snack," according to the filing. Also expensed were more than $3,000 in three first-class tickets between Boston and New York, $25,800 in hotel upgrades, as well as food at the Ellis Island National Museum of Immigration, as well as $13.57 for an attorney's monthly Spotify charge."
""This is the latest example of how the legal fees sought by Javice and Amar have been beyond patently excessive and egregious," JPMorgan Chase spokesperson Pablo Rodriguez told Fortune in a statement."
Charlie Javice was convicted of fraud and sentenced to more than seven years in prison. JPMorgan acquired Javice's startup Frank in 2021 for $175 million and faces liability for her legal defense based on a contractual clause. A 2023 ruling required JPMorgan to continue covering Javice's legal tab, despite the bank's contention that the fraud fell outside the acquisition agreement. The disclosed expenses include costly meals, snacks, first-class flights, hotel upgrades, and even a Spotify charge. The bank says Javice and a co-defendant treated the ruling as a "blank check," adding more than $13 million post-trial.
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