JPMorgan doesn’t want to pay Frank founder Charlie Javis’s legal bills

JPMorgan Chase says a total of $142 million has been paid in legal fees to defend Charlie Javis and Olivier Ammar, respectively, founder and chief marketing officer of financial aid startup Frank.

JP Morgan acquired Frank for $175 million in 2021, but earlier in the Thai year, Javis and Amar were earlier convicted of defrauding the bank by inflating the number of Frank’s clients, with Javis was sentenced to seven years in prison. JPMorgan now Seeking to overturn the judge’s order Requesting the bank to pay the husband’s legal fees, as well Reported in the Wall Street Journal.

Michael Pittenger, the lawyer representing JPMorgan, said Javis’s legal team paid costs including luxury hotel upgrades, 24-hour workdays, and cellulite butter (a moisturizer).

“There has never been a case, to my knowledge, involving such extreme abuse,” Pettinger said.

A spokesperson for Javice told the Wall Street Journal that it adhered to JPMorgan policies and “did not receive or see any expenses.”

“As an employee, she purchased ice cream and other items in accordance with JPMorgan’s Code of Conduct, and never sought compensation for anything not expressly permitted under the guidelines she was provided with,” a Javis spokesperson said.