On January 12, 2023 the Chief Executive Officer of KGM Gaming LLC located at 2944 Samuel Drive, Bensalem made a police report in regards to the embezzlement of over $1.4 million dollars by the business’ former CPA/Accountant Michael Bull, 47 years old from Emmaus, PA. Michael Bull was employed by KGM Gaming since 2014 and was fired in December 2022 when the missing funds were discovered.
KGM Gaming LLC supplies cabinet housings for slot machines, as well as other furniture, to casinos across the US and Canada. The company recently installed fraud mitigation software that flagged suspicious transactions.
During an internal audit, it was discovered that Michael Bull was in the payroll system as a vendor and started issuing checks to himself in December 2015. It appeared that Michael Bull would trace the signature of the CEO on the unauthorized checks before depositing them in his personal bank account. It was also found that Michael Bull would enter fraudulent vendor invoices then change the payee name on the check to his own.
Bensalem Township Detective Stephen Clark was assigned the case and began by serving search warrants on Citizens Bank to obtain the banking records of the personal accounts of Michael Bull. A meticulous accounting of all transactions revealed that Michael Bull issued himself 288 checks over a 7-year period. The total amount of the unauthorized checks was found to be $2,404,960.