JPMorgan Fights $115M in "Egregious" Legal Fees for Convicted Startup Founder

As of October 26, 2025, JPMorgan Chase is embroiled in a legal dispute over the exorbitant legal fees it has been required to pay for convicted startup founder Charlie Javice. Javice was sentenced last month to 7 years in prison for conspiracy, wire, and bank fraud after tricking JPMorgan into purchasing her startup, Frank, for $175 million.

Despite Javice's conviction, a clause in JPMorgan's original contract with her has kept the bank liable for her legal fees, which have now reached over $115 million. JPMorgan is now asking the court to terminate this obligation, describing the fees as "patently excessive and egregious."

The bank argues that Javice has "unreasonably" hired five different law firms for her defense, with one firm alone receiving $35.6 million in advanced fees and expenses. JPMorgan says this "abusive billing" has treated the advancement process like "a blank check to bill and expense whatever they please."

With Javice continuing to appeal her guilty verdict, JPMorgan has already advanced $60.1 million for her criminal defense, which the bank calls an "unprecedented and shocking amount." The bank now seeks to put a stop to what it sees as a clear abuse of the legal system.