Millions Withdrawn From Employee Accounts After Payroll Company Collapse | NBC Nightly News

Millions Withdrawn From Employee Accounts After Payroll Company Collapse | NBC Nightly News


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About the Author: Oren Garnes

100 Comments

  1. Any company with half a wit controls its payroll account and executes the transfers, and does not outsource 100% of the function to an internet company.

  2. In theory they need to keep all funds to be dispersed in a separate bank account, and should only be able to access fees to pay bills. They broke the law if something else was done.

  3. Just look at what it affects every where this was done on purpose to wake everyone up now do your research everyone who owns the companies that were affected and who's going to profit from this affect you'll find your answer to me this is an act of War we all need to wake up and this is someone that is homeless and just recently lost everything for jobs for the middle class why is it that people are now becoming homeless and jobless more than ever and suicide rate has skyrocketed people need to wake up it is the rich people vs the people that are struggling everyday

  4. We shouldn't have a separate entity for every step NA working process at your job. Why is there even a separate company that deals with payroll like ADP??? I like ADP but is it really necessary there's office full of employees at my work how come one person can't do payroll, And if I have an issue I can go right to that person?? What happens now is that person can't do anything because ADP really runs it.

  5. A worst nightmare that should be the top story on the news!!! Embezzlement and class A felonies need to put someone in prison. Beautiful dogs by the way

  6. They aint reach yall for comment cause they on the next thing smoking out of the country; complete with new aliases and passports.

  7. The government knows exactly what happened and who has the money. This is a test to manufacture a new system of payment through cryptocurrencies.

  8. https://goo.gl/search/Consumer+Financial+Protection+Bureau
    Consumer Financial Protection Bureau, Government agency IS BEING GUTTED AS WE DPEAK

  9. Come on Trump, where is your lower unemployment stats? It looks like it will get a lot higher now in addition to with many euthanized animals.

    Just a thought, Give all these employees the wages from the white house administration which is overpaid to begin with by taking the wages away from them without permission like you were taking funds from the new on base military school for the children. Just for thought, you can have the entire administration euthanized as well instead of the dogs. The dogs can provide more services, they are better trained and and way more skilled by a long shot than your entire staff as well. Mind you, Your staff sits and barks to your every command as their master as well but unfortunately your staff can not roll over and play dead which would be a plus actually. Save the doggies NOW !

  10. Clear message sent don't let a out sourced company handle your payroll if there going bankrupt rob you before going under take the million go to Bahamas

  11. Just another way the "establishment" is fully showcasing its contempt for the working class!

    People keep focusing on race,gender etc. when it's just like the gilded age where royalty of wealth separation is so vast that people are looked at like insect, crushed beneath a boot with no remorse!

  12. sounds like a Nigerian start up scam.
    go back to old school checks
    if it bounced it bounces not affecting your "real time money"

  13. Corporate rule. No one will go to prison. No one will get their money back. Fascist Republicans only work for the already wealthy.

  14. Hello ? They didn't respond cause …..They took the money and ran …you got robbed .that's what happened to the money …aren't bank accounts suppose to be federally insured ? I would file a report w/o the police and bank and better business bureau. … oh wait , trump shut down the better business bureau. .oops

  15. “Nobody knows where the money went”???

    I have an idea: with the firm.

    I used to work for a payroll company. It's like this: your client subtotals the money needed to process payroll to pay employees for each period (net paychecks, fees, and deductions for taxes, benefits, etc.) Then, the 3rd party firm drafts that entire amount in one lump sum, from the client's bank account, into the firm's account. The amount could be as big or small as you want: it just depends on how much money you're paying employees.

    Portions of that one draft are allocated for tax deposits to the IRS and state/local agencies, benefit premium payments to insurance carriers, retirement deferrals, worker's comp premiums and wage reports, and fees to process that payroll itself. It even includes new hire reports and payments sent to state agencies for things like child support, bankruptcy garnishments, unpaid student debt and tax levies. The muhf*ckin list goes ooooon.

    In a nutshell, processing just one payroll is a BIG f*ckin deal.

    If I were one of the unfortunate employers on the receiving end of this whole ordeal, I'd check with the agencies, carriers and banks to make sure at the very least, the other side of those paychecks went to where they needed to go, as listed above.

    This is awful to hear, because I know what it's like when sh*t hits the fan. And what sucks is all of the account managers probably were told to not say anything, or were fired on the spot so they couldn't communicate with the employers.

    It's shocking to see this happen. I sincerely hope all of the clients can get their money back.

    Also…the employees were double drafted? Jeez, man.

    That’s just like kicking a dead horse.

  16. So what. Pull yourself up by your bootstraps and stop complaining. That was in the past, get over it…you lazy thugs are not owed anything.

  17. This is a non-story. All these people have to do is go to their bank and make unauthorized debit claims and they will return the debits back to whatever bank sent them on behalf of the payroll company. Automatic right to return for 60 days. Problem solved in 10 minutes.

  18. Yep, the old trumpian "winning" strategy. Deregulation means no one is watching to prevent this scam. But he's the Chosen, what was that??? Oh yeah, your chosen fool. So what does that make the supporters?🤔🤔🤔🤣🤣🤣🤣 🙈🙈🙈🙈

  19. Just another example of why outsourcing corporate departments is really bad for business. If any company can't handle its own HR, then they shouldn't be in business.

  20. About eleven years ago, my husband was offered a new job right before Christmas, our kids were 3 & 5. After he gave his two weeks notice, his boss went in and took back my husband's Xmas bonus without telling him. Two tiny, sweet little boys were so happy and grateful for their three little presents 😢 They never knew what happened that year but I can tell you it was all my husband could do to keep my hands from that man's throat 😡 Talk about low.

    There should be a law that makes electronic payments, even direct deposits, a ONE WAY STREET. This is morally criminal and should be legally as well.

  21. This is suburban America's introduction to the reality for the rest of the world. Rich people stealing is not new…. Just new to them. Don't expect a follow up story as they are probably rich enough to buy a news blackout also.

  22. Well there was an accident waiting to happen. The wages part should go into a trust account not the payroll company's bank account.

  23. How does $35M digitally disappear without a trace? Wouldn’t some at the banks involved have noticed something odd in their transaction details? Can’t the funds just be reversed from wherever it was diverted to? This sounds like something out of the movie 1990 Ghost. And Pioneer Bank is suspiciously quite. Inside job by several hackers. I wonder which country the money was offshored to. Iran maybe?

  24. Reminds back to the scene in this Netflix movie named impostors where Alice steals all the payroll money from.the car dealership.

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