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After $175 Million Scam, JPMorgan Battles $115M in Legal Fees: 'Patently Excessive and Egregious'
JPMorgan Chase & Co. is contesting a $115 million legal bill linked to fraudsters Charlie Javice and Olivier Amar, who defrauded the bank of $175 million. The bank's legal representatives described the charges as "patently excessive and egregious". Despite the founders' convictions, a Delaware court upheld a clause requiring JPMorgan to cover their legal costs. The case highlights the risks financial institutions face in partnerships and the need for thorough due diligence.
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