JPMorgan Ordered to Pay Javice’s Legal Fees in Fraud Case (2)

JPMorgan Chase & Co. must pay Frank founder Charlie Javice’s defense costs in its suit accusing her of defrauding the bank in its $175 million acquisition of her college-loan-planning site.

Delaware Chancery Court Judge Kathaleen St. J. McCormick concluded Monday JPMorgan was legally obligated to cover Javice’s legal bills, rejecting the bank’s argument that her alleged fraud fell outside the scope of the 2021 merger agreement. The ruling likely also covers Javice’s defense to criminal fraud charges brought by federal prosecutors over the disputed deal.

Charlie Javice outside court in New York on Tuesday, April 4, 2023.

Source: Bloomberg

JPMorgan sued Javice and Olivier Amar, another Frank executive, for fraud in Delaware ...