The maximum sentence is 30 years behind bars but the case is hardly rare. A federal report listed $4.6 billion in loans as 'potentially fraudulent.'
with the two crimes, which the government said stemmed from 10 Paycheck Protection Program loans totaling $1.4 million he applied for on behalf of four businesses he ran.The federally backed loans, issued through private lenders, were created by Congress during the early months of the COVID-19 pandemic as a way for businesses to meet payroll and other basic expenses while millions of people were home because of public health orders.
The loan application included a form that employers are supposed to file with the Internal Revenue Service, but prosecutors claimed in January that the IRS hadn’t received that form from the charity for 2019 or some other years. The same day the loan reached the bank, prosecutors had contended, Landers wired $87,000 from the previously-empty account to a car dealer for a 1970 Jaguar JKE Roadster, a classic collectable car.
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