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Rapper Maurice “Mo” Fayne, who appeared on Love and hip-hop: Atlanta when engaged to actor Karlie Redd in 2018, was sentenced to 17.5 years behind bars for crimes including misuse of millions of dollars in PPP loans.
Fayne, 38, who lives in Dacula, Georgia, was arrested in May 2020 for making false statements about his loan application from the Paycheck Protection Program – which aimed to stabilize the economy during the COVID-19 pandemic – as well as bank fraud and conspiracy and wire fraud linked to a Ponzi scheme. Fayne then pleaded guilty – TMZ reported that he did so after making a deal with prosecutors to avoid even more time – and he was sentenced in May 2021.
Officials said Fayne in April 2020 requested $ 3.7 million through United Community Bank for his company, Flame Trucking. This 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 overdue child support, $ 136,000 for the rental of a Rolls-Royce, $ 65,000 in cash, $ 50,000 for money he owed in another court case, and $ 907,000 to start a new business.
Fayne paid an additional $ 230,000 to people helping him run a Ponzi scheme. According to the Justice Department, he ran the program from March 2013 to May 2020, taking money from people who intended to invest in his business and using it to “pay off debts and personal expenses and finance an extravagant lifestyle for itself “.
In addition to time spent in federal prison, US District Judge Mark H. Cohen ordered Fayne to serve five years on probation and pay $ 4,465,865.55 to his victims in several states.
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