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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.

 

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