This is part 2! You should listen to part 1 first:
How much would it take for you to lose your job, and your career, if you helped your friends make millions defrauding financial companies? Did you say $11,300 in Amazon gift cards? No? Well that’s what one criminal settled for from his “friends” in this scheme!
This week we look at a group of fraudsters that netted millions in loans between 2013 and 2019 using nothing more than fake paperwork and a handful of shell companies. How were they able to go unnoticed for 3 years? Why was a payroll company not able to pay 1000’s of their clients’ employees? We will look into these questions and more in this week’s episode #11 of eCrimeBytes.
Photo Credit: Will Waldron / Times Union
The crime ring:
Sources
- https://krebsonsecurity.com/2019/09/mypayrollhr-ceo-arrested-admits-to-70m-fraud/
- https://www.courtlistener.com/docket/16240561/cachet-financial-services-v-mypayrollhr/
- https://www.courtlistener.com/docket/16415208/parties/southwest-payroll-service-inc-v-pioneer-bancorp-inc/
- https://www.nbcnews.com/news/us-news/fbi-agents-raid-home-ceo-connected-payroll-processing-fraud-n1055591
- https://www.courtlistener.com/docket/16241232/united-states-v-mann/
- https://www.courtlistener.com/docket/17436704/united-states-v-mann/ (More info)
- https://www.justice.gov/usao-ndny/pr/minnesota-man-pleads-guilty-conspiring-michael-mann-defraud-financing-companies
- https://www.justice.gov/usao-ndny/pr/michael-mann-charged-bank-fraud
- https://www.justice.gov/usao-ndny/pr/valuewise-ceo-michael-mann-sentenced-144-months-prison-100-million-fraud
- https://dailygazette.com/2021/08/20/third-person-indicted-in-connection-with-manns-payroll-scheme/
- https://www.courtlistener.com/docket/16808173/united-states-v-steiner/
- https://www.courtlistener.com/docket/60330998/united-states-v-schwartz/
- https://www.timesunion.com/news/article/Michael-Mann-sentenced-to-12-years-in-prison-in-16363029.php
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