In a verdict last month, American entrepreneur Charlie Javice, born in the 1990s, was sentenced to over seven years in prison for deceiving JPMorgan Chase into buying her college financial aid startup, Frank, for $175 million.

But the legal troubles for JPMorgan Chase aren't over yet. While Javice is still appealing her conviction, JPMorgan Chase has been ordered to pay $115 million in legal fees to Javice and her co-defendant, Olivier Amar, because a clause in the bank's original contract with Javice required JPMorgan Chase to cover her legal expenses.
In a filing last Friday, JPMorgan Chase's lawyers asked the court to terminate their obligation to make further payments.
A JPMorgan Chase spokesperson said in a statement: "The attorney 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 the coming weeks."
JPMorgan Chase has advanced $60.1 million to Javice for his criminal defense, "an unprecedented and egregious amount that exceeds any semblance of reasonableness," the bank's lawyers argued.
JPMorgan Chase's lawyers argued that the bank will suffer irreparable harm unless the court halts the "abusive billing" practice, in which Javice and her legal team treat the promotion process as "a blank check to bill and spend as they please."
Among the powerful legal team defending Javice is Alex Spiro of Quinn Emanuel, who has represented clients such as Elon Musk and Kim Kardashian. It was previously reported that Spiro's fees have nearly doubled over the past four years, and he now charges $3,000 per hour.
