JPMorgan Was Billed $115 Million for Javice Fraud Case Defense

JPMorgan Chase & Co. was hit with $115 million in lawyers’ bills for Charlie Javice and a second executive convicted of defrauding the bank, yet another twist in a years-long legal saga that’s captivated Wall Street.

The defense tab, revealed last week when Javice was sentenced to seven years in prison, is roughly two-thirds of the $175 million the bank paid for Javice’s student-finance company, Frank. A Delaware court previously ruled that the terms of that deal required the bank to cover Javice and co-defendant Olivier Amar’s legal costs.

The legal bill is the latest fallout for JPMorgan from ...