Scammers are going to scam, allegedly. Rapper and Love & Hip Hop: Atlanta star Maurice “Mo” Fayne has pleaded guilty to PPP loan fraud, and is looking at over a decade behind bars.
Many people have been caught up in Payroll Protection Programs schemes where they were given funds intended to keep business afloat during the pandemic but used the money for personal items like expensive foreign cars or luxury clothing. Apparently, the temptation was too much for Mo Fayne to resist.
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The “Love & Hip Hop: Atlanta” star pled guilty to 6 counts of federal bank fraud after prosecutors say he funded a lavish lifestyle during the pandemic with a Paycheck Protection Program loan. Y’know … the ones intended to help employees and small businesses hit hard by COVID.
In docs, obtained by TMZ, Fayne was ordered to forfeit nearly $100k from several bank accounts as well as 8 of his 2015 Kenworth T680 trucks. Yes, he bought EIGHT trucks!!!
In exchange for his plea, the feds dropped 14 other charges and agreed to recommend Fayne get a 151-month prison sentence — about 12.5 years — and that’s prosecutors going easy on him! Before the deal, he was staring down a possible max of 30 years.
It was previously reported that Mo Fayne aka Arkansas Mo also used his ill-gotten funds to cop a Rolex and $40,000 in child support.
Also, Mo, who was romantically tied to castmate Karlie Redd, has been in custody since December 2020. He is asking to be released until his sentencing in September.