A Dolton police officer is accused of fraudulently receiving hundreds of {dollars} in federal Paycheck Protection Program loans for his Off Responsibility Safety enterprise.
William Frederick Reed of Hazel Crest was charged Monday with offering false statements to the federal Small Enterprise Administration, chapter fraud, concealment or destruction of chapter data, failure to file a tax return and perjury on tax returns.
PPP was a federal mortgage program applied by the SBA to offer monetary aid to small companies and nonprofits in the course of the COVID-19 pandemic.
Prosecutors mentioned Reed fraudulently utilized for 3 PPP loans by falsifying the month-to-month payroll of his Off Responsibility Safety personal safety enterprise. They mentioned he acquired $5,862 in June 2020, $5,862 in March 2021 and $5,860 in Might 2021.
Primarily based on his 2019 revenue tax return, Reed wouldn’t have certified for a PPP mortgage, prosecutors mentioned.
Reed, who can also be a full-time police officer with the Dolton Police Division, additionally allegedly lied about his revenue on his 2021 tax return. He informed the IRS his whole revenue that yr was $49,739, although he really made way more, prosecutors mentioned.
Prosecutors mentioned that Reed additionally filed for chapter in March 2022 and supplied faux paperwork to cover the truth that he had gotten the PPP loans and didn’t file an revenue tax return final yr regardless of making $189,092 as a police officer.
The Dolton Police Division didn’t reply to a request for remark.
