Episode Details

This episode provides an update on the Synapse Financial Technology (Synapse) bankruptcy by examining two articles from The Wall Street Journal (subscription required) titled “The bank behind the fintech revolution stumbles after customer funds go missing” and “Synapse executive alerted accountants before $100 million missing funds scandal.”  The first article explains how funds moved from fintechs to Synapse (as the middleman) to banks. The second article gives details of the grand jury that has been convened to investigate criminal misconduct at Synapse.