ALBANY, N.Y. (NEWS10) — A federal judge granted a temporary restraining order and preliminary injunction in favor of Cachet Financial Services for their case against MyPayrollHR and its former CEO Michael Mann.
“Defendants, and anyone acting in concert with them or on their behalf, are hereby temporarily enjoined and restrained from diverting, secreting, hiding, wasting, spending, appropriating, or subverting any assets in any bank account controlled by Mann or MyPayrollHR,” according to the request.
The accounts involved contain tens of millions of dollars.
Mann admitted to federal investigators back in September to defrauding clients, their employees, and banks about $70 million.
Several financial institutions, including Cachet, are working to recoup some of those funds arguing the restraining order was key in doing so. The judge granted the order last Wednesday.
According to the order, “the Court finds that Plaintiff has satisfied the standard for a preliminary injunction with regard to its claims for unjust enrichment, breach of contract, conversion, and fraud.”
A hearing on the matter was supposed to happen Wednesday in federal court in Albany, but it’s since been cancelled.
Mann, who was indicted on several federal charges, is out on $200,000 bond.