Florida AG Uthmeier launches investigation into JP Morgan Chase over collusion with Biden admin in Arctic Frost probe

In a letter from Uthmeier to the banking company, he wrote, "I write to express grave concerns about the explosive revelations regarding the Biden Administration's pursuit of its political adversaries, and JPMC's ensuing actions in the shadow of this operation, codenamed 'Arctic Frost.' In addition to spying on Republican Senators, the Biden Administration subpoenaed sensitive banking information from several Florida individuals, organizations, and business entities including Trump Media & Technology Group Corp. (TMTG), a Florida corporation."

The letter, first reported by the Daily Wire's Mary Margaret Olohan, stated that TMTG "established a banking relationship with JPMC," and that after data with TMTG was integrated with JPMC, the Biden DOJ "subpoenaed JPMC for 'any and all records of TMTG'" which also included records of the company before TMTG existed.

"Almost immediately after the Biden DOJ's fishing expedition began vis a vis TMTG, JPSC began questioning TMTG officials about, inter alia, its transactions from years prior. JPMC insisted this fact-gathering was merely 'due diligence.’ These inquiries, however, appear to be pretextual and unrelated to their stated purpose. Immediately after TMTG closed a merger in March 2024, JPMC notified TMTG that it was closing its bank accounts," the letter added.

"The timing of this activity and JPMC's termination of its business relationships with TMTG raise obvious, troubling questions. This activity may implicate numerous Florida criminal and civil anti-fraud laws and de-banking prohibitions, as well as a breach of the basic, fundamental duties owed to your banking customers."

The letter added, “Rest assured, this office will be investigating to ascertain the nature of these secret and suspicious circumstances. I have directed my Office of Statewide Prosecution and Enforcement Division to begin investigating this matter immediately."

JPMorgan was asked to hold all records about the interactions with TMTG as the Florida attorney general conducts an investigation.

Last week, JPMorgan told shareholders that the company was “responding to requests from government authorities and other external parties regarding, among other things, the firm’s policies and processes and the provision of services to customers and potential customers," in an apparent reference to debanking, per the Daily Wire.

JPMorgan has said that it supported an executive order signed by Trump that has regulators look into “politicized or unlawful debanking" by banking companies.