For nearly a year before it filed for bankruptcy, Flipcause paid over $3 million to executives, all while nonprofits’ requests to have donations transferred to them went unanswered.
The transactions were discussed in bankruptcy court during a Dec. 22 hearing on the Oakland-based company’s request for protection under Chapter 11.
In its bankruptcy filing, Flipcause revealed that it owes $29 million to over 3,200 nonprofits across the country for donations the company never transferred…