Michael Maurello, a former employee of the Art Institute of Chicago (AIC) who was accused of embezzling $2 million from the museum between 2007 and 2020, pleaded guilty to the charges against him.
He will be sentenced on September 14 and faces up to 20 years in prison, the Chicago Grandstand reported. He was also ordered to pay the AIC restitution of just over $2.3 million and could also face an additional fine of $250,000.
Maurello’s scheme was first uncovered in 2019, after a review of the museum’s financial procedures uncovered “unusual account activity”. In 2020, an assistant museum controller interviews AIC payroll manager Maurello about an unusual transfer. Maurello falsely claimed it was a system test, falsifying a payroll report to cover his tracks. The museum later fired Maurello for cause and turned the matter over to law enforcement.
The AIC has since “implemented additional controls and procedures to help detect and prevent future wrongdoing”; funds lost through Maurello’s embezzlement scheme will be recovered by insurance.
