Saturday, October 31, 2020

GoFundMe CEO says the company has an answer to fraud

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GoFundMe has helped raise $5 billion for everything from disaster relief to medical expenses to tuition for college students in need since it launched in 2010.

But public trust in the crowdfunding web platform was shaken recently when a New Jersey couple who said they were using GoFundMe to help a homeless veteran were accused in 2018 of spending most of the $400,000 in donations on cars and vacations.

In an exclusive interview, GoFundMe Chairman and CEO Rob Solomon told NBC News that such a scheme wouldn’t work today because of safeguards the company has in place.

“We wouldn’t let the money leave the building,” Solomon said, “until we could figure out how to get the flow of funds to the beneficiary.”

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