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Russell Simmons Finally Addresses Rushcard Glitch Earlier this month it was reported that Russell Simmons was in a lot of hot wate r after his shady Rushcard company was stealing money from poor cardholders. The hip hop mogul now says he’s ready to address the distressed card-holders according to a recent Instagram posting. Simmons now says the company will be accountable for users who have lost funds according to the LA Sentinel : “We made the transfer of processes four separate times in the past and the next thing you know, I get a text message that we sent to our customers that we were down for two hours,” said Simmons, the business magnate who also founded Def Jam Records and the Phat Farm clothing line. “Our call center usually gets about 600 calls and now it’s [getting] 600,000 calls.” Simmons said that three multi-billion dollar corporations were involved in the process and each has been helpful in resolving the technical issues related to the latest transition. Simmons credited MasterCard CEO Ajaypal Singh Banga with immediately responding to the problem and helping to fix it. “He’s the CEO of a $120 billion company and he picked the telephone up on the first ring,” Simmons said, adding that Banga has talked a lot about finding ways to reach underserved communities and others who don’t use traditional banks. Simmons also said that he has heard the criticism about the outage loud and clear and he’s accepted it and now he’s doing everything in his power to make his cardholders whole. “The way I view it, I will take every complaint and claim and pay it, if it has any legitimacy,” said Simmons. “I’ve heard people being put out of their apartments or in the hospital needing medicine and what I have done, what I do, is if they say they [lost] $400, I’ve given them back that exact amount and I’ve also adjusted their fees.” Do you think Russell and his RushCard company will finally be able tor rectify the money issues after the “glitch” left many people penniless??

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Shady Business: Russell Simmons Addresses Rushcard “Glitch” And Promises To Pay Up If Users Have Gone Broke