BENSALEM TWP., Pa. - A man from Lehigh County is accused of embezzling $2.4 million from a company that supplies cabinet housings for slot machines and other furniture to casinos.
Michael Bull, 47, of Emmaus, faces multiple charges, including dealing in proceeds of unlawful activity, theft by unlawful taking, theft by deception, and receiving stolen property, according to a news release from the Bucks County District Attorney's Office.
The DA's office says the CEO of KGM Gaming LLC in Bensalem Township made a police report in early January about the alleged embezzlement by Bull, who was the company's CPA/accountant.
Bull worked for KGM Gaming since 2014 and was fired in December 2022 when the missing funds were discovered, according to the DA's office.
The company recently installed fraud mitigation software that flagged suspicious transactions. During an internal audit, it was discovered that Bull was in the payroll system as a vendor and started issuing checks to himself in December 2015, according to the news release.
The DA's office said it appeared that Bull would trace the signature of the CEO on the unauthorized checks before depositing them in his personal bank account. Bull would enter fraudulent vendor invoices then change the payee name on the check to his own, according to authorities.
Bensalem Township Detective Stephen Clark was assigned the case and began by serving search warrants on Citizens Bank to obtain the banking records of Bull's personal accounts.
After looking through all transactions, authorities say Bull issued himself 288 checks over a seven-year period. The total amount of the unauthorized checks was found to be $2,404,960, the DA's office said.
Bull turned himself in Monday at the Bensalem Township Police Department.
Bull was arraigned by District Justice Gallagher and remanded to the Bucks County Correctional Facility on 10% of $500,000 bail.
