Former Art Institute of Chicago payroll manager indicted for $2 million embezzlement scheme

Federal prosecutors have indicted Michael Maurello, a former payroll manager at the Art Institute of Chicago, on charges of wire and bank fraud. He allegedly embezzled over $2 million from the museum across 13 years by creating false payments to employees and depositing the funds into his personal bank account. The museum identified unusual financial activity in 2019, leading to Maurello's dismissal after an internal review. According to a statement from the institution, the theft did not affect staffing, payroll, scholarship funding, programming, or other financial operations due to its prolonged and concealed nature. The cumulative loss was described as significant but isolated in impact.