Love & Hip Hop: ATL star Mo Fayne has been sentenced to 17 years in a federal prison for misappropriation of PPP loans he received during the pandemic.
Fayne applied for $3.7 million in April 2020 through United Community Bank for his corporation, Flame Trucking. The money was to be used to pay his employees, mortgages or other costs related to his business.
The feds say that Fayne spent it on personal expenses: $85,000 in jewelry, got caught up with his $40,000 child support payments and spent $136,000 on the lease of a Rolls-Royce. Authorities also say that he used $65,000 in cash, $50,000 for money he owed in another legal case and $907,000 to start a new business.
“This sentence should serve notice that the FBI and our federal partners will investigate anyone who misdirects federal emergency assistance earmarked for businesses who need it to stay afloat,” said Chris Hacker, Special Agent in Charge of FBI Atlanta. “We won’t tolerate anyone driven by personal greed to pocket American taxpayer money that should be going to those who need it.”
U.S. District Judge Mark H. Cohen ordered Fayne to five years of supervised release and payment of $4,465,865.55 to his victims.