On Jan. 12, 2023, the CEO of KGM Gaming LLC, located at 2944 Samuel Drive, Bensalem, made a police report in regards to the embezzlement of over $2.4 million by the business’ former CPA/accountant Michael Bull, 47, of Emmaus.
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 U.S. and Canada. 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. It appeared that 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 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 Bull.
A meticulous accounting of all transactions revealed that Bull issued himself 288 checks over a seven-year period. The total amount of the unauthorized checks was found to be $2,404,960.
On Monday, March 27, Bull turned himself in at the Bensalem Township Police Department on felony charges including Dealing in Proceeds of Unlawful Activity, Theft by Unlawful Taking, Theft by Deception, Receiving Stolen Property and related charges. Bull was arraigned by District Justice Michael Gallagher and remanded to the Bucks County Correctional Facility on 10 percent of $500,000 bail.
Bucks County Deputy District Attorney Marc Furber is assigned to the case and has worked closely with Clark throughout this investigation.
