MypayrollHR CEO Michael Mann
Business Person Crime Cases Trending USA

MypayrollHR CEO Michael Mann Wiki, Bio, Age, Net Worth, Twitter, New York More Facts

Michael Mann Wiki

MyPayrollHR CEO Michael Mann president of MyPayrollHR’s parent company ValueWise was indicted for bank fraud on Monday in US District Court in Northern New York

MyPayrollHR boss Michael Mann has been charged with using fake companies to fraudulently secure up to $70million in loans and credit lines.

Who is Michael Mann Bio

Mann was CEO of MyPayrollHR, a payroll processing company that abruptly shuttered on Sept. 5 after Mann’s banks, suspecting him of fraud, froze his accounts, authorities said.

ALBANY, NY (WRGB) The owner of a Clifton Park payroll company has been charged in federal court on bank fraud charges. Michael Mann, 49. the operator is accused of bank fraud, involving MyPayrollHR, which processed payroll and tax payments for approximately 1,000 small-business clients located across the country.

Michael Mann Age

Michael Mann Age is 49 years old

Key Points

  • Michael Mann was indicted for fraud Monday in US District Court in New York
  • The indictment came less than three weeks after MyPayrollHR, whose parent company was run by Mann, ceased operations without warning on September 5 
  • Thousands of workers nationwide were left without their paychecks  
  • A criminal complaint described how Mann ‘fraudulently obtained at least $70million in loans from banks’ beginning in 2010 or 2011 
  • He allegedly admitted to creating fake firms specifically for the fraud scheme 
  • If convicted, Michael Mann faces up to 30 years in prison and a maximum $1million fine

 

The CEO of a New York payroll company was arrested and charged Monday in a $70 million bank fraud scheme that left hundreds of small businesses across the country scrambling, federal authorities said.

MyPayrollHR CEO Michael Mann, 49, allegedly obtained millions in bank loans and lines of credit over the last decade that he diverted to fake companies, the United States Attorney for the Northern District of New York said in a statement.

The company MyPayrollHR Works for?

The company handled payroll for roughly 1,000 businesses across the United States, authorities said. The owner of one of them, a real estate company in southern California, told NBC San Diego earlier this month that he was “freaking out” over MyPayrollHR’s sudden shutdown.

According to FBI Michael Mann fraud

The FBI has searched the New York home of a payroll processing company CEO suspected of fraud. The FBI is investigating whether New York state-based MyPayrollHR allegedly diverted an estimated $35 million from employee checks and accounts.

Federal investigators said MyPayrollHR, which processed payroll and tax payments for some 1,000 small businesses in the US, closed its doors on September 5 after Mann’s banks froze his accounts because they suspected him of fraud.

The account freeze affected MyPayrollHR clients because part of Mann’s scheme involved diverting client payroll payments to a bank account he controlled, the indictment said.

How FBI Recieve complaint about Michael Mann

A criminal complaint compiled by the FBI described how MyPayrollHR CEO Michael Mann ‘fraudulently obtained at least $70million in loans from banks and other financial institutions’ after launching his scheme in 2011 and 2010.

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