Florida highschool coach accused of defrauding almost $ 1 million COVID-19 fund
A highschool basketball coach in Fort Lauterdale, Fla. Has been arrested for allegedly submitting almost $ 1 million in claims to the Federal Paycheck Safety Program (P3P), prosecutors say federal.
The PPP is a congressional small enterprise mortgage program that funds U.S. companies affected by the pandemic this 12 months.
40-year-old coach Terrence Williams is a championship-winning coach at Stranahan Excessive Faculty. He was charged on Friday with a number of monetary crimes, together with financial institution fraud and cash laundering, reported the South Florida Solar-Sentinel.
Prosecutors accuse Williams of making use of for and acquiring a mortgage of $ 984,710 for his firm Williams Consulting Group LLC, in accordance with the newspaper.
Federal officers say Williams stated his firm employed 67 folks and had a median month-to-month payroll of $ 393,884, in accordance with Sentinel. Nevertheless, officers stated he didn’t have any staff registered with the state. Williams can be accused of laundering the cash via a number of financial institution accounts upon receipt of the mortgage.
The federal grievance signifies that his firm additionally acquired unemployment insurance coverage advantages.
FBI brokers in court docket paperwork stated Williams allegedly made a automobile cost of $ 4,872.94 in Fort Lauderdale utilizing P3 funds and transferred an extra $ 445,985 from an account beneath the identify of Williams Consulting to a different financial institution financial savings account and test.
Stranahan athletic director Thomas Harrison advised The Solar-Sentinel he was unaware Williams had been charged and declined to remark. Williams made his first court docket look on Friday.
Williams isn’t the primary Floridian to be concerned in a fraud case amid the financial fallout from the coronavirus. In July, one other man in Florida was charged with PPP mortgage fraud, with prosecutors saying he used the funds to purchase a Lamborghini.