Although, especially since he still made significant fortune from it, it still seems sufficient exposure to at least understand the concept of a minority of scammers & criminals who must be identified & shut off in real time (maybe even more exposure if he came up through two precursor companies).
Heck, it is something that is already obvious to everyone here, and most of us were never employed in banking or payments operations...
That's mostly a legend. In actuality he took some part in some company that got bought by another company which eventually became PayPal.