CLIFTON PARK, N.Y. (NEWS10) — Federal prosecutors are asking for the dismissal of petitions from two large financial firms. Both Cachet Financial Services and Pioneer Bank are trying to grab the bulk of the money seized from Michael Mann during the MayPayrollHR fraud case.
In August 2020, Mann pleaded guilty to orchestrating a years-long fraud, which caused more than $100 million in losses to banks, financial companies, and other businesses. The government seized about $14 million from Mann, which is all that could be paid out in restitution.
If the petitions from the two large firms aren’t dismissed, then no other small businesses or victims get any of the money.
Mann is set to be sentenced for fraud in August.