JPMorgan Chase says it’s been billed a complete of $142 million in authorized charges for the protection of Charlie Javice and Olivier Amar, respectively the founder and chief advertising and marketing officer at monetary help startup Frank.
JPMorgan acquired Frank for $175 million in 2021, however earlier thai yr, Javice and Amar have been discovered responsible earlier of defrauding the financial institution by inflating Frank’s buyer depend, with Javice sentenced to seven years in jail. JPMorgan is now in search of to overturn a decide’s order requiring the financial institution to pay the pair’s authorized charges, as reported in The Wall Avenue Journal.
Michael Pittinger, a lawyer representing JPMorgan, stated that Javice’s authorized workforce billed for bills together with luxurious resort upgrades, 24 hours of labor in a single day, and cellulite butter (a moisturizer).
“There’s by no means been a case, to my data, with such excessive abuses,” Pittinger stated.
A spokesman for Javice advised the WSJ that she abided by JPMorgan insurance policies and “didn’t cost or see any bills.”
“As an worker, she did buy ice cream and different gadgets in accordance with JPMorgan’s code of conduct, and she or he by no means sought reimbursement for something that wasn’t expressly permitted beneath the rules she was given,” Javice’s spokesman stated.