BENSALEM, PA – Michael Bull, a 47-year-old former CPA of KGM Gaming LLC, has been charged with embezzling over $2.4 million from the Bensalem-based company. KGM Gaming, a supplier of cabinet housings for slot machines and other furniture to casinos in the US and Canada, discovered the missing funds in December 2022 after implementing fraud mitigation software.
An internal audit found that Bull had been issuing unauthorized checks to himself since December 2015 by forging the CEO’s signature and entering fraudulent vendor invoices. Bensalem Township Detective Stephen Clark’s investigation revealed that Bull had issued himself 288 checks over a seven-year period.
Today, Bull turned himself in and faces felony charges, including Dealing in Proceeds of Unlawful Activity, Theft by Unlawful Taking, Theft by Deception, and Receiving Stolen Property. He was arraigned by District Justice Gallagher and is being held at the Bucks County Correctional Facility on 10% of a $500,000 bail. Bucks County Deputy District Attorney Marc Furber is assigned to the case.