FBI agents raided the home of MyPayrollHR's top executive as part of a fraud investigation into the company accused of vanishing with up to $35 million and leaving thousands without a paycheck

Business Insider | 9/17/2019 | Aaron Holmes
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The home of MyPayrollHR president Michael Mann was raided Monday afternoon, an FBI spokesperson confirmed to Business Insider.

MyPayrollHR closed suddenly on Sept. 5, leaving tens of thousands of people around the country without their paychecks and spurring an FBI investigation.

Arrests - Mann - Company

No arrests were made, and Mann hasn't been seen since the company closed.

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FBI - Agents - Monday - Afternoon - Raid

FBI agents on Monday afternoon conducted a raid on the home of MyPayrollHR head Michael Mann in Edinburg, New York.

A spokesperson for the FBI's Albany bureau confirmed to Business Insider that agents were at Mann's address Monday in connection with an ongoing investigation, but declined to provide further details. The raid was first reported by The Daily Mail.

Mann - President - ValueWise - Parent - Company

Mann is the president of ValueWise, the parent company that owns MyPayrollHR. The cloud-based payroll and HR service unexpectedly shuttered on Sept. 5, leaving tens of thousands of people without paychecks.

When MyPayrollHR shuttered, over 4,000 of the company's clients were abruptly notified that their payroll transactions couldn't be processed "due to unforeseen circumstances," according to the Albany Times-Union. The company also abandoned its Albany offices the same day.

Shutdown - Company - Cybersecurity - Watchdog - Brian

With the shutdown of the company, up to $35 million suddenly went missing, according to cybersecurity watchdog Brian Krebs. The...
(Excerpt) Read more at: Business Insider
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