Luke Steiner, 31, of Minnesota pleaded guilty on Wednesday (Feb.5) to one charge of conspiracy to commit wire fraud, stating that he assisted New York-based MyPayrollHR CEO and Founder Michael Mann defraud two companies, according to multiple reports last week. Steiner said he helped the...
The closure of New York-based payroll processing firm MyPayrollHR left some 8,000 people and about 400 companies without their paychecks. Now, small business owners are struggling to make up thousands of dollars in tax payments that vanished or are in limbo, Chicago’s Daily Herald reported...
Today in the payments news roundup, Square is rolling out CBD early access program that will allow U.S. vendors to sell CBD items. Also, New York is taking a closer look at the payroll technology space with the fallout from the scandal and collapse of MyPayrollHR. And Japan’s SoftBank is...
The state of New York is taking a closer look at the payroll technology industry amid the fallout from the collapse and scandal of MyPayrollHR, The Wall Street Journal reported Thursday (Oct. 3). The New York State Department of Financial Services has reportedly issued subpoenas...
September 16, 2019
Perhaps everyone’s worst nightmare came true for 250,000 employees of 4,000-5,000 small businesses over Labor Day weekend: Payday came, and paychecks didn’t. In fact, it was much worse. In some cases, the direct deposits appeared briefly in employee bank accounts before being abruptly pulled — as many as three times as the platform responsible for making […]
September 24, 2019
The CEO and founder of the New York payroll company MyPayrollHR was arrested and charged Monday (Sept. 23) in a $70 million bank fraud scheme that left hundreds of small businesses across the country scrambling, The Wall Street Journal reported. Michael Mann, 49, allegedly obtained millions in bank loans and lines of credit over the […]
