Estimated reading time: 0 minutes, 25 seconds

JPMorgan's Dimon on Deal for Firm in Fraud Suit: 'Huge Mistake'  

JPMorgan Chase CEO Jamie Dimon has described the company’s purchase of Frank, a financial planning firm now at the center of a fraud lawsuit, as “a huge mistake.” So reports Bloomberg.

JPMorganJPMorgan, which bought Frank for $175 million in 2021, has sued founder Charlie Javice for allegedly generating millions of fake customers. Javice’s lawyer disputes the allegations.

In an earnings call, Dimon said, “I’ll tell you the lessons learned here when this thing is out of litigation.”

Read the full article from Bloomberg.

 

Read 1293 times
Rate this item
(0 votes)

Visit other PMG Sites:

PMG360 is committed to protecting the privacy of the personal data we collect from our subscribers/agents/customers/exhibitors and sponsors. On May 25th, the European's GDPR policy will be enforced. Nothing is changing about your current settings or how your information is processed, however, we have made a few changes. We have updated our Privacy Policy and Cookie Policy to make it easier for you to understand what information we collect, how and why we collect it.