The news is out: [A South Florida high school basketball coach who led his team to a state championship has been charged with fleecing about $1 million from a federal small business program meant to help companies suffering financial hardship during the coronavirus pandemic.
Terrence Deshun Williams, 40, head varsity basketball coach at Stranahan High School in Fort Lauderdale, appeared in federal court Friday morning after his arrest on charges of bank fraud, money laundering, engaging in unlawful transactions, and making false statements to a financial institution.
Amid the COVID-19 pandemic, Williams fraudulently sought and received $984,710 in proceeds from the federal government’s Paycheck Protection Program loan through his company, Williams Consulting Group LLC, according to a criminal complaint.
The FBI complaint says Williams claimed his company had 67 employees and an average monthly payroll of $393,884. But, in fact, it paid no such payroll and did not have any workers. The complaint further alleges that after receiving the loan, Williams laundered the vast majority of the money by transferring it to several of his bank accounts.]
I saw this fraud coming from 100 miles away.