US Reviews JPMorgan Deal Making, Including Frank, FT Says (2)

The Office of the Comptroller of the Currency scheduled a specific audit of JPMorgan’s deal-making after the bank bought dozens of smaller companies in 2021 and 2022, Financial Times reports, citing unidentified people familiar with the matter.

• One deal being reviewed includes its $175m purchase of Frank, whose founder has been charged with fraud
  • OCC audit was scheduled before JPMorgan’s civil lawsuit against Frank founder Charlie Javice
  • Fraud allegations will make Frank deal a crucial area of focus due to the bank’s failure to uncover the alleged deception during the purchase process: FT
• Spokespeople for JPMorgan and the OCC declined ...