BOSTON (NEWS10) — Another local bank is reporting potential major losses as a result of the MyPayrollHR scandal.
In a recent filing, Berkshire Bank revealed it stands to lose at least $12 million.
MyPayrollHR CEO Michael Mann is facing allegations that he committed more than $70 million in bank fraud. His company in Clifton Park abruptly shut its doors at the beginning of September.
Locally-based Pioneer Bank also said it is expecting millions of dollars in losses.