AOL Build Speakers Series - Russell Simmons, 'The Happy Vegan'

Last year, Russell Simmons‘ company UniRush LLC experienced a service outage during a planned migration to a new transaction processor, preventing over 130,000 RushCard holders from accessing or depositing funds.

The mogul, who described that experience as “one of the most devastating times in my adult life,” is finally speaking out about how he and his company got things back on track.

Russell revealed to HipHop DX: “I put aside $25 million. That was never the problem in my mind… I am going to spend a lot more money than that in the community, in my peacekeeping programs, in RUSH and art education. We’re gonna be in the community in a way that we’ve never been.”

Simmons has been dedicated to rebuilding the brand and seeking due justice for all of his customers. He offered free service to RushCard holders for five months, which sacrificed much of the company’s profits. He also revealed plans to pay $100 to $500 per claim, plus an additional $1.5 million in legal fees.

Check out what else Russell Simmons had to say about RushCard, plus why he chose to endorse Hillary Clinton, here.

SOURCE: Hip Hop DX | PHOTO CREDIT: Getty 

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