NC payroll company operators indicted, accused of stealing more than $11 million from clients

Markets Associated Press

Operators of a North Carolina third-party payroll company have been indicted after federal prosecutors say they took more than $11 million from their clients and used it for themselves.

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The U.S. Attorney's office in Charlotte says 43-year-old James William Staz and his father, 72-year-old William James Staz are named in a 10-count indictment. They are both charged with wire fraud, and James Staz is also charged with money laundering.

U.S. Attorney Anne Tompkins said Tuesday that from about 2008 to March 2014, the defendants defrauded at least 113 clients of money intended for payroll and employment tax payments. Court records show James Staz used the money to pay for alcohol, strip clubs and a luxury home.

A recording said the phone number for the business was disconnected, and listings for the two men couldn't be found.