Florida Attorney General James Uthmeier has launched an investigation into JPMorgan Chase after it was discovered to have participated in the Arctic Frost investigation under the Biden administration.
“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,'” Uthmeier wrote in a letter to the company, as reported by the Daily Wire’s Mary Margaret Olohan. “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.”
“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, going on to assert that 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,” Uthmeier wrote.
The state attorney general shared in a video on X that the bank coordinated with former Special Counsel Jack Smith to de-bank the “Florida-based Trump Media Group, harming the company just before it went public.”
In August, President Trump signed an executive order vowing to uphold fair banking practices for all Americans.
“It is the policy of the United States that no American should be denied access to financial services because of their constitutionally or statutorily protected beliefs, affiliations, or political views, and to ensure that politicized or unlawful debanking is not used as a tool to inhibit such beliefs, affiliations, or political views,” the order declares. “Banking decisions must instead be made on the basis of individualized, objective, and risk-based analyses.”
