What is JPMorgan's dispute with Charlie Javice?

JPMorgan is disputing the $115 million in legal fees it has been required to pay for convicted startup founder Charlie Javice, who was sentenced to 7 years in prison for defrauding the bank in a $175 million acquisition.

How much has JPMorgan paid in legal fees for Charlie Javice?

JPMorgan has already advanced $60.1 million to Javice for her criminal defense, which the bank calls an "unprecedented and shocking amount."

Why is JPMorgan seeking to terminate the legal fees for Charlie Javice?

JPMorgan argues that the legal fees sought by Javice and her co-defendant are "patently excessive and egregious," and that Javice has "unreasonably" hired five different law firms, with one firm alone receiving $35.6 million in advanced fees and expenses.

Home / Business and Economy / JPMorgan Fights $115M in "Egregious" Legal Fees for Convicted Startup Founder

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

26 Oct

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Summary

JPMorgan liable for legal fees of convicted startup founder Charlie Javice
Javice sentenced to 7 years in prison for defrauding JPMorgan in $175M acquisition
JPMorgan disputes $115M in legal fees, calls them "egregious" and "abusive"

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."