Two theories:
- He keeps his position but the DIKs will be more closely monitored thus taking eyes off the Jocks and letting Quinn complete their order, however this doesn't sit well with the Jocks after the Chad incident and the rivarly flares up even more than before
- He loses his position as president, something Quinn did not want or expect to happen, which starts a chain of events that will see her whole operation unravel and she'll take the MC down with her, and they'll have to work together to set things right.
Simple; they left him out in the cold, naked when he asked for their help and this was his way of getting back at them. This is how it could be spun and since Riona is someone they know a lot better than the MC, they might be more inclined to believe that he was just playing them in order to do something like this.
As for the password part, it might not even dawn on them because they're so mad at him, or Riona could say he forced her to find out what it is, or maybe Quinn ensured that the laptop was left open so it wouldn't have been needed thus making the lie more plausible.
If the walls start closing in on Quinn and Riona, then the MC could become a scapegoat in order for Quinn to not have her relationship with DIKs damaged.