"Jacorey has been a part of our program for the past three years and we wish him the best as he pursues his future away from Razorback Basketball," Arkansas coach Mike Anderson said in a statement. "Members of our program carry a responsibility to conduct themselves in a manner consistent with the expectations we have established for our student-athletes both on and off the court."
All three players were identified on video. During questioning, they all admitted to police that they were the three people captured on camera during the alleged offenses but denied that they'd used counterfeit cash.
Entering the offseason, Anderson said that he expected the 6-foot-8 Williams, who averaged 4.8 points and 2.8 rebounds last season, to make a greater contribution and log more minutes as the Razorbacks lost SEC player of the year Bobby Portis and Michael Qualls.
The Razorbacks will begin their season with a Nov. 13 matchup against Southern University in Fayetteville.