Federal officials have charged a championship high school basketball coach in Fort Lauderdale, Fla. with financial crimes after he allegedly defrauded a coronavirus relief program out of almost $1 million, according to a report from the South Florida Sun Sentinel. The report cites federal records as source of the story.
Terrence Williams, the 40-year-old coach from Stranahan High School, allegedly received $984,710 after applying for a loan that was accepted through the Payment Protection Program, a federal program designed to help small businesses struggling through the COVID-19 pandemic. He claimed his company, Williams Consulting Group LLC, employed 67 people with an average monthly payroll of $393,884, though the feds say the company had no employees on record.
Not only was the loan money allegedly laundered through multiple bank accounts, but the company also received benefits for unemployment insurance. Williams is being charged with multiple financial crimes including bank fraud, money laundering, making false statements to a financial institution and engaging in transactions in unlawful proceeds.
The 40-year-old has spent the last three years at Stranahan High where he’s amassed a winning percentage of .763 (71-22). He recently won a state title with the program in March, the second consecutive championship of his tenure.