Investigators say Sgt. Domenic Costello, at the time the Newtown Police Union treasurer, and Officer Andrew Stinson, then the president, said they "borrowed" the money starting in 2007 to stave off foreclosures on their homes and to pay personal bills.
They both indicated they wanted to repay the money.
Both men, who resigned from the department earlier this year, surrendered to Danbury police Wednesday and were released on promises to appear in court March 25 on a variety of larceny and conspiracy counts.
A lawyer for Costello tells The News Times of Danbury that his client is cooperating with the investigation. A lawyer for Stinson could not be reached.