‘Patently excessive’: JP Morgan fumes as it foots $60 m bill for founder; calls fees ‘abuse’
JPMorgan Chase is reportedly seeking to end its obligation to pay legal fees for Charlie Javice, the founder of Frank, who was found guilty of defrauding the bank. Despite a contract clause, JPMorgan argues the $60.1 million already advanced for her defense and appeal is "patently excessive and egregious," citing multiple law firms and high hourly rates.
JPMorgan Chase is reportedly seeking to end its obligation to pay legal fees for Charlie Javice, the founder of Frank, who was found guilty of defrauding the bank. Despite a contract clause, JPMorgan argues the $60.1 million already advanced for her defense and appeal is "patently excessive and egregious," citing multiple law firms and high hourly rates.
