CHICAGO (WLS) — A Florida man has been indicted after being accused of stealing at least $180,000 from four people in Illinois.
Investigators say Makaio’ Kekoa, 39, of Wimauma, Florida ran a fraudulent investment scheme, using the money for gambling and other personal expenses from 2019 to 2022.
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Kekoa pleaded not guilty to wire fraud Tuesday in Chicago.
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Each count of wire fraud is punishable by up to 20 years in federal prison, the U.S. Attorney’s Office for the Northern District of Illinois said in a news release Monday.
Kekoa is expected back in court next month.
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PAYROLL & HR CONTROLS (PREVENTING “GHOST” SCHEMES)
Payroll fraud is often the hardest to detect because it “looks” like a normal business expense.
- Segregation of Duties (SoD): The person who adds new employees to the system must not be the same person who approves the monthly pay run.
- Mandatory Vacation Policy: Require all financial and HR staff to take 5–10 consecutive days of leave annually. Fraud often surfaces when the perpetrator isn’t there to “hide” the trail.
- Ghost Employee Audit: Perform a quarterly “Headcount Reconciliation” where managers must physically verify every name on their payroll list exists.
- Self-Pay Blocking: Ensure the payroll software has a hard-coded block preventing administrators from editing their own salary or bank details.