FORT LAUDERDALE, Fla. — A South Florida high school basketball coach who recently led his team to consecutive state championships has been charged with defrauding a coronavirus relief program out of almost $1 million, federal prosecutors said Friday.
Terrence Williams, who is the head coach of the boys' basketball team at Stranahan High School in Fort Lauderdale, 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.
According to the criminal complaint, Williams applied for and received 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.
After receiving the loan, the complaint alleges, Williams laundered most of the money by transferring the proceeds to several different bank accounts he controlled.
The complaint also alleges that Williams' company received Florida unemployment insurance benefits.
School principal Michelle Padura did not immediately reply to an email seeking comment.
However, a statement from Broward County Public Schools 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."
