Dolton, Illinois police officer charged in COVID relief loan fraud
A Dolton, Illinois, police officer has been charged in a COVID-19 relief loan fraud and bankruptcy case.
The U.S. Attorney's Office said William Reed, 41, was charged with making false statements in U.S. Small Business Administration loan applications, bankruptcy fraud, and tax offenses.
According to officials, Reed served as a police officer in both Dolton and Robbins, as well as a self-employed security guard in 2020 and 2021 when he applied for loans through the Paycheck Protection Program. It is not known whether Reed is currently working as a police officer.
Officials said Reed lied in his applications, claiming he was "qualified to receive the loans based on inflated and falsified average monthly payrolls for his 'off-duty security' job."
Reed fraudulently obtained three loans, the indictment alleges.
In 2022, Reed filed for bankruptcy in Chicago. Officials said he concealed his receipt of the PPP loans and submitted a fraudulent 2021 individual income tax return.
His arraignment date was not immediately known.