Casinos are well-known for their strict security measures that are put in place to protect the large amounts of money on their premises. However, two former employees of the Hollywood Casino in Lawrenceberg, Indiana, managed to steal funds from the businessby taking funds from the casino's accounts. Fortunately, an accounts payable audit uncovered the scheme.
According to The Associated Press, authorities arrested Christopher Krabbe, the casino's ex-surveillance technician director, and Michael Burnett, it's former surveillance director. Both men are facing charges of racketeering, money laundering and theft. The accounts payable audit found that the former employees conducted a scheme in which they embezzled more than $400,000 from the Hollywood Casino.
Investigators allege that Krabbe and Burnett managed to steal the funds by creating two false security companies and then billing their employer for equipment and repair work that was never rendered, according to a statement from the Indiana State Police. In some instances, the casino was billed twice and ended up making duplicate payments to the fraudulent companies. Both men were arrested but were released after posting bail and they are awaiting trial.