NYPD Detective Charged With $1.4 Million Bank Fraud

NEW YORK (CBSNewYork) -- A New York City police detective has been charged with bank fraud in what authorities say was a scheme to use stolen bank account numbers to pay off credit cards and home mortgage debt.

Michael Bonanno, 44, of Staten Island, was arrested and charged in Manhattan federal court Tuesday with bank fraud, conspiracy to commit bank fraud, and aggravated identity theft.

According to a release from the U.S. Attorney's office, Bonanno and another person not yet named are accused of attempting to steal more than $1.4 million in fraudulent wire transfers and depositing approximately $68,900 worth of forged checks into their accounts from November 2016 to March 2017.

"Plain and simple, Michael Bonanno allegedly used other people's money to pay off his debts while simultaneously serving as a police officer, charged with investigating criminal wrongdoing," said FBI Assistant Director William F. Sweeney Jr. in a statement. "We don't allow the general public to get away with these types of crimes, and we won't allow members of the law enforcement community to get away with them either."