Michael T. Mann

September 11, 2019

NY Payroll Company Vanishes With $35 Million

This post was originally published on this siteMyPayrollHR, a now defunct cloud-based payroll processing firm based in upstate New York, abruptly ceased operations this past week after stiffing employees at thousands of companies. The ongoing debacle, which allegedly involves malfeasance on the part of the payroll company’s CEO, resulted in countless people having money drained from their bank accounts and has left nearly $35 million worth of payroll and tax payments in legal limbo. Unlike many stories here about cloud service providers being extorted by hackers for ransomware payouts, this snafu appears to have been something of an inside job. […]
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September 27, 2019

MyPayrollHR CEO Arrested, Admits to $70M Fraud

This post was originally published on this siteEarlier this month, employees at more than 1,000 companies saw one or two paycheck’s worth of funds deducted from their bank accounts after the CEO of their cloud payroll provider absconded with $35 million in payroll and tax deposits from customers. On Monday, the CEO was arrested and allegedly confessed that the diversion was the last desperate gasp of a financial shell game that earned him $70 million over several years. Michael T. Mann, the 49-year-old CEO of Clifton Park, NY-based MyPayrollHR, was arrested this week and charged with bank fraud. In court […]
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