The former employee embezzled funds over 13 years, federal prosecutors say
A former payroll manager at the Art Institute of Chicago has been indicted on federal charges that he allegedly embezzled more than USD$2 million in funds from the museum.
The charges of wire and bank fraud allege that Michael Maurello stole museum funds across 13 years through false payments to employees, instead depositing the money into his own bank account. The museum discovered unusual financial activity in 2019 and later fired Maurello following a review.
‘This individual stole in excess of $2 million from the organization over the course of approximately a decade,’ the museum said in a statement.
‘The cumulative loss was significant, but because of the length of time and manner in which it was taken, it did not impact decisions around staffing, payroll, scholarship funding, programming, or other financial aspects of the organization.’
