Reality star Maurice “Mo” Fayne’s real life has become a cautionary tale on what not to do when trying to impress the masses.
The “Love & Hip Hop: Atlanta” star was sentenced to 17.5 years for his role in a PPP loan fraud case, TMZ reports.
Fayne was living it up, according to prosecutors, and defrauded the system to the tune of $3.7 million after applying for a PPP loan for his business, citing losses due to COVID-19.
According to the outlet, Fayne funded a lavish lifestyle and claimed that he employed 107 people in his trucking business with a monthly payroll of $1,490,200.
But that wasn’t the case and Fayne cut a deal and pleaded guilty to 6 counts, including bank and wire fraud, TMZ reports.
In return prosecutors dropped 14 other charges. Still even though he faced a 30-year-sentence he ultimately ended up with a whopping 17.5 years.
Fayne reportedly also used $40k to pay past-due child support, “$85k for jewelry, $136k for a Rolls-Royce, and $907k to start a new business in Arkansas.”
And he still has to pay back $4,465,865.55 when he is finally released.
As BLACK ENTERPRISE previously reported, in May 2020, Fayne was charged with federal bank fraud, according to The U.S. Department of Justice. The Love & Hip Hop: Atlanta star pled guilty to the charges he was facing.
Fayne was ordered to forfeit nearly $100,000 from several of his bank accounts and also eight of his 2015 Kenworth T680 trucks. For his guilty plea, the prosecution agreed to drop 14 other charges and they agreed to recommend that Fayne gets a 151-month prison sentence, which comes out to about 12.5 years. But the judge in the case added five more years to his sentence!
He was looking at the possibility of serving a maximum term of up to 30 years .The loan that he obtained was in the name of Flame Trucking. Fayne, 37, is from Dacula, Georgia.