Cachet Financial Reeling from MyPayrollHR Fraud

Credit to Author: BrianKrebs| Date: Fri, 25 Oct 2019 00:50:44 +0000
When NY based cloud payroll provider MyPayrollHR unexpectedly shuttered its doors last month and disappeared with $26 million worth of customer payroll deposits, its payments processor Cachet Financial Services ended up funding the bank accounts of MyPayrollHR client company employees anyway, graciously eating a $26 million loss which it is now suing to recover.
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