[US] Former museum payroll manager found guilty of $2m embezzlement

On April 12, the former payroll manager of the Art Institute of Chicago pleaded guilty to misappropriating more than $2 million in funds, Fox 32 reports.

According to the plea agreement, Michael Maurello (56) siphoned money from the museum's payroll account to his personal bank accounts from 2007 to 2020.

Mr Maurello falsely designated the payments as legitimate compensation to other employees.

The plea agreement detailed Mr Maurello admitting that he kept spreadsheets and notes to track the misappropriated money to allow him to later make reversals within the payroll system to hide the scheme.

The museum's assistant controller reportedly asked Mr Maurello about one of the payments in January 2020 and he falsely stated that the transaction was a test of the payroll system.

He subsequently edited and altered a report from the payroll system to conceal information about the misappropriated funds, the plea agreement said.

Mr Maurello's sentencing date has been set for September 14.

He reportedly faces a maximum sentence of 20 years imprisonment followed by up to three years on supervised release. He could also face a fine of up to $250,000 - or twice the gross gain or loss from his offence - whichever is greater, prosecutors said. 

In addition, Mr Maurello will be sentenced to pay restitution to the museum of $2,308,772.

Source: Fox 32

On April 12, the former payroll manager of the Art Institute of Chicago pleaded guilty to misappropriating more than $2 million in funds, Fox 32 reports.

According to the plea agreement, Michael Maurello (56) siphoned money from the museum's payroll account to his personal bank accounts from 2007 to 2020.

Mr Maurello falsely designated the payments as legitimate compensation to other employees.

The plea agreement detailed Mr Maurello admitting that he kept spreadsheets and notes to track the misappropriated money to allow him to later make reversals within the payroll system to hide the scheme.

The museum's assistant controller reportedly asked Mr Maurello about one of the payments in January 2020 and he falsely stated that the transaction was a test of the payroll system.

He subsequently edited and altered a report from the payroll system to conceal information about the misappropriated funds, the plea agreement said.

Mr Maurello's sentencing date has been set for September 14.

He reportedly faces a maximum sentence of 20 years imprisonment followed by up to three years on supervised release. He could also face a fine of up to $250,000 - or twice the gross gain or loss from his offence - whichever is greater, prosecutors said. 

In addition, Mr Maurello will be sentenced to pay restitution to the museum of $2,308,772.

Source: Fox 32