‘Love & Hip Hop’s Mo Fayne Gets 17 Years in Prison For Fraud
Love and Hip Hop Atlanta’s Mo Fayne might make PPP fraudsters think twice because he just got hit with 17 years in the slammer!
The Atlanta reality tv star has been sentenced to over 17 years in federal prison for conspiracy and wire fraud.
Per the Georgia Department of Justice’s website, “Fayne planned to use the PPP program as a cover for his long-running Ponzi scheme,” said Acting U.S. Attorney Kurt R. Erskine. “The funds the program supplies serve as a lifeline to many businesses desperately trying to stay afloat during the pandemic, and unfortunately his fraud helped deplete those precious dollars.”
“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,” added Chris Hacker, of the 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.”
RELATED: Love & Hip Hop Star Mo Fayne Indicted For PPP Fraud Accused Of Running $5M Ponzi Scheme
As we reported, prosecutors say he lied to get a $3,725,500 Paycheck Protection Program loan, claiming it would pay 107 workers and expenses for a trucking company. However, he used the funds to support his extravagant lifestyle, purchasing custom-made jewelry and dropping $136,000 to lease a 2019 Rolls-Royce.
“Lying to gain access to SBA’s pandemic response programs is not without consequence,” said SBA OIG’s Eastern Region Special Agent Amaleka McCall-Brathwaite. “OIG will relentlessly pursue evidence of fraud against SBA’s programs aimed at assisting the nation’s small businesses struggling with the pandemic challenges. I want to thank the U.S. Attorney’s Office for its leadership and dedication to pursuing justice.”
Fayne had pleaded guilty and cut a deal because he would be facing up to 30 years behind bars otherwise.