Don’t Steal the Payrolls
Also WeWork, Carlos Ghosn, golf clubs and Facebook.
There is a lot of intermediation in the U.S. financial system, a lot of middlemen who briefly touch every transaction. So the way that people often get paid involves a company called a “payroll processor” that sends money from the company’s bank account to all the employees’ bank accounts. People rarely give very much thought to the payroll processors except when one week they just up and steal everyone’s paychecks, whoops:
You might think that “(1) set up a payroll processor (2) steal $30 million of paychecks” would be a perfectly sufficient fraud, but in fact that is not at all what was going on here, according to prosecutors. The FBI explains that Mann came in to confess, and told this story: