Chasing Vanished Vendor

A story about Val Katayev's integrity in business during the Great Recession when dealing with international vendors.

"During the Great Recession, we had many international people in the music business. Their banks were located in countries like Cyprus, and they would tell us 'Stop wiring us money, we don't trust the bank we're working with, I need to get a new bank account.'

We held their money because they told us to. We had $1 million in our bank account that didn't belong to us. All these sites basically told me I was like their bank for a while because they didn't want to get paid and didn't trust their banks. It was phenomenal to me - they trusted us with their money. In some cases, we were holding their money for up to a year because they had nowhere to send it."