• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Current price of oil as of June 16, 2026

2

'Work hard, stay loyal, and the system will reward you': the Boomer credo is a Gen X betrayal and a Millennial pipe dream

3

Hundreds of Stanford students walked out of their grad ceremony to protest Google CEO’s commencement speech. It wasn’t all about AI

1

Current price of oil as of June 16, 2026

2

'Work hard, stay loyal, and the system will reward you': the Boomer credo is a Gen X betrayal and a Millennial pipe dream

3

Hundreds of Stanford students walked out of their grad ceremony to protest Google CEO’s commencement speech. It wasn’t all about AI
BankingBanks

JPMorgan balks at $115 million legal tab for convicted fraudsters and says Charlie Javice’s lawyers are treating it ‘like a blank check’

By
Ken Sweet
Ken Sweet
and
The Associated Press
The Associated Press
Down Arrow Button Icon
By
Ken Sweet
Ken Sweet
and
The Associated Press
The Associated Press
Down Arrow Button Icon
October 25, 2025, 12:25 PM ET
Charlie Javice, center, exits Manhattan federal court on Sept. 29.
Charlie Javice, center, exits Manhattan federal court on Sept. 29.Yuki Iwamura—AP Photo
Add Fortune on Google for similar content.

For nearly three years, JPMorgan Chase has picking up the legal tab of Charlie Javice and Olivier Amar, the two convicted fraudsters who sold their financial aid startup Frank to the bank.

Recommended Video

But the two have racked up an astronomical, nine-figure legal bill that far exceeds any reasonable amount the two may have needed for their defense, the bank said in a court filing late Friday. Chase shouldn’t have to pay and its agreement as part of the startup purchase to shoulder the costs should end, the bank argued.

According to the filing, Javice’s team of lawyers across five law firms have billed JPMorgan approximately $60.1 million in legal fees and expenses, while Amar’s lawyers have billed the bank roughly $55.2 million in fees.

In total, the bank alleges Javice and Amar’s lawyers have racked up legal fees of $115 million, with one law firm receiving $35.6 million in reimbursements alone. In comparison, Elizabeth Holmes, who was convicted of defrauding investors in the Theranos case, reportedly ended up with a legal bill of roughly $30 million.

The bank would be “irreparably injured” if the court does not put an end to “abusive billing,” the bank said. Javice and her lawyers have treated the process “like a blank check,” Chase said.

Javice, 33, was convicted in March of duping the banking giant when it bought her company, called Frank, in the summer of 2021. She made false records that made it seem like Frank had over 4 million customers when it had fewer than 300,000. Amar was convicted of the same charges.

Early in the case, a Delaware court ruled that the bank was required to advance Javice and Amar for any legal fees, which was part of the bank’s agreement when Frank was acquired in 2021.

Part of Javice’s legal team is Alex Spiro of Quinn Emanuel, who is also the lawyer who has previously represented Elon Musk. Spiro did not immediately respond to an email request for comment.

A law firm representing Amar did not immediately respond to a request for comment.

“The legal fees sought by Charlie Javice and Olivier Amar are patently excessive and egregious. We look forward to sharing details of this abuse with the court in coming weeks,” said Pablo Rodriguez, a spokesman for the bank

Subscribe to Fortune Gulf Brief. Every Tuesday, this new newsletter delivers clear-eyed, authoritative intelligence on the deals, decisions, policies, and power shifts shaping one of the world’s most consequential regions, written for the people who need to act on it. Sign up here.
About the Authors
By Ken Sweet
See full bioRight Arrow Button Icon
By The Associated Press
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Banking

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Banking

warsh
EconomyFederal Reserve
Kevin Warsh spent a year calling for rate cuts. Now he’ll have to explain why he can’t
By The Associated Press and Christopher RugaberJune 17, 2026
4 hours ago
Top CD rates from major banks June 17, 2026: Chase CDs, Bank of America CDs, Citibank CDs, and more
Personal FinanceCertificates of Deposit (CDs)
Top CD rates from major banks on June 17, 2026: Chase CDs, Bank of America CDs, Citibank CDs, and more
By Joseph HostetlerJune 17, 2026
5 hours ago
Karta founders Orlando Espinoza and Freddy Juez smile at the camera while holding up Karta cards.
Startups & VentureCompanies
Exclusive: Karta raises $15 million to bring WhatsApp-run U.S. credit cards to global travelers
By Camila Grigera NaónJune 17, 2026
5 hours ago
Today’s top high-yield savings rates: Up to 5.00% on June 17, 2026
Personal FinanceSavings accounts
Today’s top high-yield savings rates: Up to 5.00% on June 17, 2026
By Glen Luke FlanaganJune 17, 2026
8 hours ago
Vietnam has to find $200 billion to fund its ambitious growth agenda. Techcombank’s CEO thinks that has to come from overseas
BankingAsia Agenda
Vietnam has to find $200 billion to fund its ambitious growth agenda. Techcombank’s CEO thinks that has to come from overseas
By Angelica AngJune 16, 2026
21 hours ago
Exclusive: PayPal winds down venture arm as fintech giant restructures under new CEO
Startups & VenturePayPal Holdings
Exclusive: PayPal winds down venture arm as fintech giant restructures under new CEO
By Ben WeissJune 16, 2026
22 hours ago

Most Popular

Current price of oil as of June 16, 2026
Personal Finance
Current price of oil as of June 16, 2026
By Joseph HostetlerJune 16, 2026
1 day ago
'Work hard, stay loyal, and the system will reward you': the Boomer credo is a Gen X betrayal and a Millennial pipe dream
Success
'Work hard, stay loyal, and the system will reward you': the Boomer credo is a Gen X betrayal and a Millennial pipe dream
By Nick LichtenbergJune 16, 2026
1 day ago
Hundreds of Stanford students walked out of their grad ceremony to protest Google CEO’s commencement speech. It wasn’t all about AI
Big Tech
Hundreds of Stanford students walked out of their grad ceremony to protest Google CEO’s commencement speech. It wasn’t all about AI
By Tristan BoveJune 15, 2026
2 days ago
Cursor’s 25-year-old CEO is a former Google intern who just cemented a $60 billion deal with SpaceX
AI
Cursor’s 25-year-old CEO is a former Google intern who just cemented a $60 billion deal with SpaceX
By Marco Quiroz-GutierrezJune 16, 2026
1 day ago
Team USA star Ricardo Pepi grew up in a trailer in El Paso—and his parents pawned their car title to fuel his soccer dream. Now, he’s in the World Cup
Success
Team USA star Ricardo Pepi grew up in a trailer in El Paso—and his parents pawned their car title to fuel his soccer dream. Now, he’s in the World Cup
By Preston ForeJune 15, 2026
2 days ago
Melinda French Gates' advice to new IPO millionaires: 'Give half your money away'
Startups & Venture
Melinda French Gates' advice to new IPO millionaires: 'Give half your money away'
By Emma HinchliffeJune 13, 2026
4 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.