ALBANY, N.Y. (NEWS10) — The Former CEO of MyPayrollHR is due in court Wednesday morning at 10 a.m. Michael Mann is accused of committing bank fraud of $70 million that hurt his company and caused it to go under.
On September 5, 2019, MyPayrollHR, which was based in Clifton Park, suddenly ceased operations after Mann’s banks froze his accounts, suspecting him of fraud. This account freeze affected MyPayrollHR’s clients because, as part of the alleged scheme, Mann diverted clients’ payroll payments to a bank account he controlled.
If convicted of the charge set forth in the complaint, Mann faces up to 30 years in prison, a maximum $1 million fine, and up to 5 years of post-release supervision.
The Wednesday morning hearing is a change of plea hearing.
NEWS10 will be in the courtroom and will bring you the latest.