A South Florida high school basketball coach has been charged with fraudulently taking almost $ 1 million in coronavirus relief money.
Terrence Williams, who is the head coach of the boys’ basketball team at Stranahan High School in Fort Lauderdale and who recently led his team to consecutive state championships has been charged with one count each of bank fraud, money laundering, engaging in transactions in unlawful proceeds and making false statements to a financial institution.
A news release from the U.S. Attorney for the Southern District of Florida alleges that the 40-year-old Tamarac resident fraudulently obtained $984,710 in a Paycheck Protection Program loan by applying and receiving the PPP loan on behalf of his company, Williams Consulting Group LLC.
Prosecutors said Williams claimed his company employed 67 people and had an average monthly payroll of $393,884, even though Florida records revealed the company had no employees.
Officials say Williams laundered most of the money by putting the funds in different bank accounts.
The complaint also alleges that Williams’ company received Florida unemployment insurance benefits.
Broward County Public Schools released a statement which said Williams is not a district employee.
“He has only previously earned a supplement to serve as a basketball coach (temporary position) at William Dandy Middle School,” the statement said. “He also volunteered as a basketball coach at Stranahan High School. He has not coached for either school this school year.”