Bensalem Business Bilked $2.4M By Accountant: Prosecutor

BENSALEM, NJ - A Bensalem business was bilked out of more than two million dollars by an accountant, according to the Bensalem Police Department.

Emmaus resident Michael Bull, 47, has been charged with dealing in proceeds of unlawful activity, theft by unlawful taking, theft by deception, receiving stolen property and related charges.

Bull was employed as a CPA/Accountant for KGM Gaming, 2944 Samuel Drive, from 2014 through December 2022 when he was fired when missing funds were discovered, police said.

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, police said.

Bull would trace the signature of the CEO on the unauthorized checks before depositing them in his personal bank account and enter fraudulent vendor invoices then change the payee name on the check to his own, police said.

Bensalem Township Detective Stephen Clark's investigation showed Bull issued himself 288 checks over a seven-year period, police said. The total amount of the unauthorized checks was found to be $2,404,960, police said.

On Monday, Bull turned himself in at the Bensalem Township Police Department on felony theft charges. Bucks County Deputy District Attorney Marc Furber is assigned to the case and after arraignment by District Justice Gallagher remanded Bull to the Bucks County Correctional Facility on 10 percent of $500,000 bail.