Federal officers have charged a championship highschool basketball coach in Fort Lauderdale, Fla. with monetary crimes after he allegedly defrauded a coronavirus aid program out of just about $1 million, in keeping with a report from the South Florida Solar Sentinel. The report cites federal data as supply of the story.
Terrence Williams, the 40-year-old coach from Stranahan Excessive College, allegedly obtained $984,710 after making use of for a mortgage that was accepted by means of the Fee Safety Program, a federal program designed to assist small companies struggling by means of the COVID-19 pandemic. He claimed his firm, Williams Consulting Group LLC, employed 67 folks with a mean month-to-month payroll of $393,884, although the feds say the corporate had no workers on report.
Not solely was the mortgage cash allegedly laundered by means of a number of financial institution accounts, however the firm additionally obtained advantages for unemployment insurance coverage. Williams is being charged with a number of monetary crimes together with financial institution fraud, cash laundering, making false statements to a monetary establishment and interesting in transactions in illegal proceeds.
The 40-year-old has spent the final three years at Stranahan Excessive the place he is amassed a profitable proportion of .763 (71-22). He just lately gained a state title with this system in March, the second consecutive championship of his tenure.