Favre business partner, VanLandingham, pleads guilty to role in welfare scandal
Published 8:00 am Thursday, July 25, 2024
- FLORIDA STATE UNIVERSITY PHOTO Jacob VanLandingham previously was a neuroscience professor at FSU, and started the pharmaceutical company Prevacus.
A business partner of former Southern Miss and NFL quarterback Brett Favre has pleaded guilty to his role in the largest welfare scandal in Mississippi’s history.
Jacob VanLandingham, founder of pharmaceutical company Prevacus, pleaded guilty in federal court Wednesday to one count of wire fraud. His business illegally received $2.2 million intended to go to needy Mississippians through the Temporary Assistance for Needy Families program (TANF).
Prevacus was developing concussion drugs when it received the millions between December 2018 and August 2019. Neither of the two drugs in development made it to market.
Favre was the company’s spokesperson and largest individual investor, but has maintained his innocence in the scandal. He is not currently facing any criminal charges.
VanLandingham was accused of saying he would use the TANF funds to continue developing the concussion treatments, but having ulterior motives to keep a “material amount” of the monies for his personal use.
State Auditor Shad White issued a statement Wednesday afternoon in which he said, “I applaud federal prosecutors for their continued work on this case. I’m grateful for my team at the Auditor’s office and the FBI for digging up the facts related to this case. We will continue to assist federal prosecutors as needed going forward.”
VanLandingham bonded out at $10,000 and faces sentencing at a later date. One count of wire fraud carries a maximum sentence of 20 years in prison.