The Office of the Comptroller of the Currency, OCC, has scheduled a specific audit of JPMorgan’s deal making after the company bought dozens of smaller companies in 2021 through 2022, Joshua Franklin of The Financial Times reports, citing people familiar with the matter. This review includes a $175M deal with a founder of a start-up who was recently criminally charged for defrauding the bank, where she allegedly told JPMorgan her company had 4.25M customers when it only has 300,000. The audit was scheduled prior to the lawsuit, but the fraud allegations will become a crucial area of focus, people told the Times. Reference Link
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on JPM:
- JPMorgan’s (NYSE:JPM) Spree of Smaller Deals Under Scrutiny After Startup Frank’s Debacle
- 5 Best Value Stocks to Invest in Now, According to Analysts – April 2023
- Remitly Global appoints two new members to its board of directors
- JPMorgan price target lowered to $146 from $157 at Evercore ISI
- JPMorgan price target lowered to $153 from $173 at Morgan Stanley