By Selene Raj
A Tamarac resident was charged with bank fraud and money laundering after receiving almost $1 million from the Federal government in Covid-19 relief loans.
Terrence Deshun Williams, 40, the boys’ varsity basketball coach at Stranahan High School in Fort Lauderdale, was most recently in the headlines this March for leading his team to historic victories, including their second state title, and the state championship, even named the 2020 Coach of the Year.
Now, he’s in the spotlight for a much different reason — defrauding funds meant for small businesses and other organizations in need of financial relief due to the Covid-19 pandemic.
In a criminal complaint, the Southern District of Florida alleged that Williams applied for and received $984,710 in a Paycheck Protection Program loan on behalf of his company, Williams Consulting Group LLC.
According to the complaint, Williams claimed his company had 67 employees and an average monthly payroll of $393,884. However, the document says, the company paid no such payroll and did not have any recorded employees in the state.
Federal officials also say that Williams received unemployment insurance benefits into his company’s bank account.
In the complaint, after receiving the money that was supposed to be allocated for payroll, rent mortgage, and utilities, Williams moved most of the money into other bank accounts at different financial institutions—the basis of the money laundering charges against him.
Williams faces a judge today after being charged with one count of bank fraud, one count of money laundering, one count of engaging in transactions in unlawful proceeds, and one count of making false statements to a financial institution.
The case, being prosecuted by Assistant U.S. Attorney Eli S. Rubin of the Southern District of Florida, and updates can be found on the court’s website.
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- Selene Raj is a writer and a Florida International University graduate. Born in Trinidad and raised in America, she completed her Master's in Mass Communications in 2020, and has been living in Coral Springs since 2004. She is passionate about the communities she lives and works in and loves reporting and sharing stories that are as complex and meaningful as the people who live in them.