NYPD officer accused of pocketing 40250 in COVID loans for fake business
BRONX, N.Y. — A New York City police officer assigned to the 41st Precinct is accused of fraudulently obtaining $40,250 in federal Paycheck Protection Program loans for a business that did not exist, prosecutors announced Monday.
Edward Delgado, 41, was arraigned February 9 before Bronx Supreme Court Justice Pamela Goldsmith on charges including third-degree grand larceny, fourth-degree grand larceny, criminal possession of stolen property, falsifying business records, and offering a false instrument for filing.
He was released on his own recognizance and is scheduled to return to court April 13.
According to the investigation, between February and April 2021, Delgado applied for two separate Paycheck Protection Program loans of $20,125 each through the U.S. Small Business Administration. Prosecutors allege he falsely claimed to own a security business in order to qualify for the funds.
Bank records show that a total of $40,250 was deposited into Delgado’s account during that period. Authorities allege he used the money to pay personal bills.
The Paycheck Protection Program was established to assist small businesses struggling during the COVID-19 pandemic.
The case is being prosecuted by the Bronx District Attorney’s Office Public Integrity Bureau. Investigators from the NYPD Internal Affairs Bureau and the Internal Revenue Service Criminal Investigation Division assisted in the probe.
An indictment is an accusation, and the defendant is presumed innocent unless and until proven guilty in court.
Key Points
• NYPD officer Edward Delgado is accused of fraudulently obtaining $40,250 in PPP loans
• Prosecutors allege he claimed to own a security business that did not exist
• Delgado was arraigned February 9 and released pending his next court date
