Jax Man Swindles $910K in COVID Relief, Buys Rolex

JACKSONVILLE, FL – Kenneth Steven Landers, 57, of Jacksonville, Florida, is facing a potential 30-year federal prison sentence after pleading guilty today to wire fraud and engaging in illegal monetary transactions. United States Attorney Roger B. Handberg announced the guilty plea, stemming from a brazen scheme to defraud the Paycheck Protection Program (PPP) during the height of the COVID-19 pandemic.

According to court documents, Landers systematically abused the PPP, submitting a staggering ten loan applications totaling $1,410,000 between 2020 and 2021. These applications were filed under four shell corporations he controlled: American Fallen Veterans Service Project Inc., Tire Empire LLC, Maypops LLC, and Florida United Inc. Each application was built on a foundation of lies, bolstered by fabricated and altered IRS tax forms designed to deceive lenders.

The scheme wasn’t just about submitting false paperwork; it worked. Seven of Landers’ fraudulent applications were approved, funneling a total of $910,000 into accounts he personally controlled. But instead of using the funds as intended – to keep businesses afloat and pay employees – Landers embarked on a spending spree of self-indulgence. He didn’t just pocket the cash; he flaunted it.

The feds say Landers used the stolen funds to pay off mortgages on his home and a business property. But that wasn’t enough. He then splurged on a luxurious 18kt gold Rolex watch and a classic vintage Jaguar XKE Roadster. The evidence also shows he wrote himself checks, transferred funds to personal accounts, paid down personal debt, and withdrew approximately $113,000 in cold, hard cash – all directly traceable to the PPP loan proceeds.

As part of the plea agreement, Landers has agreed to forfeit a hefty $910,000, representing the full amount of the fraudulent proceeds. He’s also surrendering two pieces of real estate purchased or funded with the ill-gotten gains. This case is part of a larger Department of Justice crackdown on individuals exploiting the CARES Act relief programs, a $2.2 trillion economic stimulus package designed to help Americans weather the pandemic.

The investigation was conducted by the Internal Revenue Service – Criminal Investigation. Assistant United States Attorneys Mai Tran and Michael J. Coolican are prosecuting the case. A sentencing date has not yet been set, but with a maximum penalty of 30 years looming, Landers’ days of luxury are likely numbered. The DOJ promises continued vigilance in pursuing those who preyed on the crisis for personal profit.