California Attorney General Rob Bonta urged a court to appoint a Chapter 11 trustee in nonprofit fundraising platform Flipcause Inc.'s bankruptcy, saying charitable funds are at risk.
Oakland-based Flipcause has mismanaged $29 million in funds from charities, making the platform unreliable and untrustworthy, Bonta said in a Monday filing in the US Bankruptcy Court for the District of Delaware.
“The gross mismanagement of debtor’s finances and its refusal to provide the attorney general of the state of California with an accounting of charitable assets, increases the likelihood that all remaining funds are charitable assets and in danger of diversion,” Bonta ...
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