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FBI agents attacked MyPayrollHR chief's home in fraud investigation



On Monday afternoon, FBI agents raided the home of MyPayrollHR leader Michael Mann in Edinburg, New York.

A spokesman for the FBI's Albany office 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 assault was first reported by The Daily Mail.

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

When MyPayrollHR shuttered, over 4,000 of the company's customers were abruptly notified that their payroll transactions could not be processed "due to unforeseen circumstances," according to the Albany Times-Union. The company also left the offices in Albany on the same day.

With the closure of the company, suddenly lost up to $ 35 million, according to cybersecurity watchdog Brian Krebs. The FBI's Albany office announced that it was investigating the company for possible "fraudulent activity" in a statement posted to Twitter last week, and urged affected business owners to submit tips about the company.

Apparently, no arrests were made in connection with the FBI attack on Monday afternoon, according to the Daily Mail. Agents allegedly arrived at the property around 4:30 a.m. and remained for an hour. Husband and wife Kim have been low since the company's closure, and no news organization has managed to get a picture of any of them this past week.

As a result of MyPayrollHR's sudden closure, thousands of people using the service found that automatic direct deposits into their accounts had been withdrawn, leaving many with negative bank accounts.

New York Governor Andrew Cuomo said on Friday that he would ensure the company is held accountable.

"We will not let these bad actors take money from the hard-working people of this state," Cuomo said.

MyPayrollHR's website appeared to be down from Tuesday morning. A call to the Albany office prompted a message that "all members of our sales team are unavailable." An answering machine left by Business Insider requesting comment was not immediately returned.


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