Reported about 12 hours ago
JPMorgan Chase & Co. is contesting a staggering $115 million legal fee bill incurred due to a $175 million scam involving convicted fraudsters Charlie Javice and Olivier Amar. The bank argues that these charges are 'patently excessive and egregious' following their conviction for manipulating data to deceive JPMorgan into disbursing substantial funds. A Delaware court has upheld the requirement for the bank to cover legal costs for the founders, leading to this ongoing legal challenge while the bank seeks a larger restitution related to the merger that brought this fraud to light.
Source: YAHOO