Paulson’s Ex-Business Partner Adds JPMorgan to Fraud Lawsuit

John Paulson’s former Puerto Rico business partner added a JPMorgan Chase & Co. unit as a co-defendant in a lawsuit he filed earlier this month accusing the hedge fund billionaire of cheating him in a $17 million investment.

Fahad Ghaffar on Wednesday filed a revised suit in federal court in Puerto Rico, claiming J.P. Morgan Trust Co. of Delaware was liable for actions taken by Paulson using a family trust for which the firm acted as a trustee. Ghaffar claims that Paulson misled him about an investment in a luxury automobile dealership on the island that was owned by ...