Love & Hip Hop: Atlanta Star Sentenced to 17 Years For Misuse of PPP Loans
Written by Tariq on September 16, 2021
Love & Hip Hop: Atlanta Cast Member Maurice “Mo” Fayne, has been sentenced to 17 in prison for misuse of millions of dollars in PPP loans. Fayne 38-year-old, was arrested in May 2020 on charges of making false statements on his application for a loan from the Paycheck Protection Program. He went on to plead guilty to bank fraud and conspiracy and wire fraud related to a Ponzi scheme.
Officials said Fayne had, in April 2020, applied for $3.7 million through United Community Bank for his corporation, Flame Trucking. The money was supposed to be used to pay his employees, mortgages or other costs related to his business. Instead, Fayne spent it on personal expenses: $85,000 in jewelry, $40,000 for past-due child support, $136,000 for the lease of a Rolls-Royce, $65,000 in cash, $50,000 for money he owed in another legal case and $907,000 to start a new business. To Read More Click Here.