Maurice Fayne Biography Maurice Fayne Wiki
According to the Justice Department, a former Love & Hip Hop: Atlanta star has been sentenced to more than 17 years in federal prison on charges relating to a Ponzi scheme and a fraudulent loan application from the Paycheck Protection Program.
Georgia Northern District Acting Attorney Kurt Erskine said Maurice Fayne, 38, ran an interstate Ponzi scheme that defrauded more than 20 people who invested in his trucking business.
Maurice Fayne, aka Arkansas Mo, who starred in Love & Hip Hop: Atlanta, has been sentenced to 17 years and six months in federal prison for conspiracy and multiple fraud charges. He’ll pay restitution in the amount of $4,465,865.55 to the victims. https://t.co/qCLIkVzfwV
— The Atlanta Voice (@theatlantavoice) September 16, 2021
Officials said Fayne, who goes by Arkansas Mo, had promised to use investor money to run the business. However, they said he used the funds to pay off personal debts and lead an extravagant life.
“During the scheme, Fayne spent more than $ 5 million at an Oklahoma casino,” the statement said.
Erskine said last April that Fayne applied for a PPP loan of $ 3.7 million, alleging that his trucking company employed more than 100 workers with an average monthly salary of $ 1,490,200. However, they said he spent $ 40,000 on overdue child support, $ 50,000 to return a previous fraud case, $ 136,000 to rent a Rolls-Royce, $ 907,000 to start a business. in Arkansas and thousands of others to start a business in Arkansas. . other expenses.
“Fayne plans to use the P3 program as a cover for his long-standing Ponzi scheme,” Erskine said. “The funds provided by the program are serving as a lifeline for many businesses desperately trying to stay afloat during the pandemic and, unfortunately, fraud has helped drain those precious dollars. ”
In addition to the 17 years and six months in prison, he will also have five years of probation. In addition, the reality TV star is due to pay close to $ 4.5 million in compensation.
Fayne appeared in Season 8 of VH1’s Love & Hip Hop: Atlanta as the love interest of longtime actor Karlie Redd.