BELIZE CITY, Mon. Oct 11, 2021– Last week, news broke of the arrest and charge of former Utah Jazz player Milton Palacio. He and 17 other retired NBA players were indicted on charges related to an NBA insurance fraud.
US news outlets report that Palacio was allegedly engaged in what is now considered a widespread insurance scheme organized by former NBA lottery pick, Terrence Williams.
The players were reportedly about defrauding $4 million dollars from the NBA Players’ Health and Welfare Benefit Plan by submitting fake medical and dental claims for reimbursements. These fake documents were provided by the aforementioned Williams.
The players managed to squeeze at least $2.5 million out of the scheme say reports, with kickbacks being paid to the mastermind, Terrence Williams.
There are no reports outlining exactly how many claims were submitted by Palacio, and how much cash he has allegedly defrauded from the NBA.
Palacio, a son of Belizean soil, is a seven-season NBA player, finishing his playing career with the Utah Jazz. In his last season he played 71 games with 18 starts, and he maintained a scoring average of 6.22 points, with 2.6 assists and 1.9 rebounds in a little over 19 minutes per game.
Palacio has since transitioned to coaching. He served as the coach of the University of Idaho, and as a coach in the G League, before being hired by Chauncey Billups as his assistant for the Portland Trailblazers.
Of note, Milton Palacio has also been named as the head coach of Belize’s national basketball team.