Lower Macungie Township man faces charges for allegedly embezzling more than $2.4 million
A Lower Macungie Township man faces felony charges after he allegedly embezzled more than $2.4 million from a business in Bensalem Township, Bucks County, when he was employed there as an accountant, according to authorities.
Michael Bull, 47, of Sheffield Drive, turned himself in to Bensalem Township Police March 27, according to a news release.
Bull was arraigned and, since unable to post bail, remanded to county jail, according to court documents available online March 28.
News releases from Bensalem Township police and the Office of the District Attorney of Bucks County District offer the following details:
On Jan. 12 an executive of KGM Gaming LLC, Samuel Drive, Bensalem Township, made a police report of an embezzlement by Bull, the former CPA/accountant of the business.
Bull was employed by KGM Gaming starting in 2014 and was fired in December 2022 when the funds were found missing.
The company had installed software capable of detecting suspicious transactions, according to authorities.
An internal audit revealed Bull was on the payroll as a vendor and “started issuing checks to himself in 2015,” according to authorities.
Investigators found Bull allegedly traced the signature of the company’s CEO on unauthorized checks and deposited the checks in a personal account.
The investigation also revealed Bull allegedly “would enter fraudulent vendor invoices then change the payee name on the check to his own.”
Investigators obtained warrants for banking records of Bull’s personal accounts and discovered he allegedly issued himself “288 checks over a 7-year period,” according to authorities.
“The total amount of the unauthorized checks was found to be $2,404,960,” according to the Bensalem Township Police Department news release.
Charges against Bull include allegedly dealing in proceeds of unlawful activity, theft by unlawful taking, theft by deception and receiving stolen property, according to authorities.
Additional charges listed March 28 included forgery, identity theft and computer trespass.
KGM Gaming LLC is a furnishings company for casinos. The company website lists gaming seating, signage and cabinetry for slot machines, as among the company’s products.
The company was founded in 2003.