Key facts
- JPMorgan Chase must continue paying the legal fees of Charlie Javice, who was convicted of defrauding the bank.
- A Delaware judge ruled JPMorgan did not prove Javice's legal fees were "unmistakably unreasonable or clearly abusive."
- The ruling covers $10.1 million in legal costs for Javice and $11.3 million for former Frank chief growth officer Olivier Amar.
- Javice was convicted of defrauding JPMorgan into acquiring her startup Frank for $175 million and sentenced to 85 months in prison.
A Delaware judge has ruled that JPMorgan Chase must continue to cover the legal expenses of Charlie Javice, a former executive convicted of defrauding the bank. JPMorgan had sought to halt payments, citing "astronomical" costs, but Magistrate Judge Christian Wright found that the bank had not met the "challenging burden" to demonstrate that Javice's fees were "so unmistakably unreasonable or clearly abusive" as to indicate bad faith.
Javice, founder of the fintech startup Frank, was convicted in March 2025 and later sentenced to 85 months in prison for defrauding JPMorgan into acquiring her company for $175 million in 2021. She is currently appealing her conviction and sentence.
JPMorgan had been ordered to pay the legal bills of both Javice and former Frank chief growth officer Olivier Amar since June 2023. The bank also attempted to stop paying Amar's legal expenses, but this request was also rejected by the judge. The ruling specifically covers $10.1 million in costs for Javice and $11.3 million for Amar between January and September 2025.