Florida Attorney General James Uthmeier announced that he is launching an investigation into multinational banking firm JPMorgan Chase (JPMC) over alleged claims of collaborating with the Biden administration’s DOJ to de-bank Florida-based Trump Media Group right before the business went public.
Uthmeier issued a statement in which he called out the banking firm for unlawfully providing confidential information to the Department of Justice and colluding with the Biden administration's “Arctic Frost” investigation, which is said to have been designed to take down political opponents.
“Today, we've sent a letter and launched an investigation into JPMorgan Chase Bank after alarming revelations about their coordinated efforts with Jackson Smith and the Department of Justice as part of the Biden administration's Operation Arctic Frost, where we now know Biden officials went after their political enemies," Uthmeier commented. "It's come to our attention that JPMorgan banked Trump Media Group, a Florida-based company, right before the business went public.”
The Attorney General further argued that JPMorgan Chase and the DOJ were investigating without probable cause and that JPMorgan Chase is practicing “wrongful banking” operations.
“We're aware that JPMorgan Bank solicited tons of information from Trump Media unrelated to their business practices, and we believe, provided sensitive banking information to the Department of Justice without real probable cause. This is wrong," Uthmeier argued. "We will not tolerate it, and we will hold them accountable. Here in Florida, we've passed legislation to protect our consumers from wrongful banking, and we will stand by our consumers.”
According to the attorney general's letter, Trump Media and Technology Group established a banking relationship with the banking conglomerate shortly after the company’s incorporation in 2021.
However, in 2023, the Biden administration subpoenaed JPMC, demanding that Trump Media turn over all financial records, as well as sending bank officials to question the company’s senior staff regarding transactions made before its incorporation and banking relationship, under the false premise of “due diligence.”
