Updated: August 12, 2020 12:38 PM
Created: August 12, 2020 11:30 AM
Former MyPayrollHR CEO Michael Mann, accused of committing millions in bank fraud, has pleaded guilty to a 12-count indictment Wednesday.
In a plea agreement reached with the government, Mann admitted during a virtual court appearance that he was guilty of wire fraud conspiracy, aggravated identity theft, bank fraud, and false tax filing.
The U.S. attorney said Mann stole between $65 million and $124 million in an elaborate nationwide swindle that involved banks, financial institutions, and individual payroll accounts.
In the plea deal, Mann agreed he owed $101 million in restitution.
Mann will remain free until his sentencing on December 10. He faces up to decades in prison.
This is a developing story. NewsChannel 13's Dan Levy will have updates starting on Live at Noon.
BREAKING NEWS - MyPayrollHR CEO Michael Mann pleads guilty to 12 count indictment: wire fraud conspiracy, aggravated identity theft, bank fraud, and false tax filing.— Dan Levy (@dlevywnyt) August 12, 2020
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