Former Love & Hip-Hop: Atlanta cast member Maurice “Mo” Fayne was sentenced to 17 years in prison for defrauding the federal Paycheck Protection Program (PPP).
According to TMZ, Fayne was sentenced Wednesday to 210 months in prison (17.5 years) after pleading guilty to 6 counts of bank and wire fraud.
Fayne agreed to a plea deal with prosecutors in exchange for dropping 14 other charges.
Federal prison time means Fayne will serve his full sentence.
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After he’s released from prison in 17 years, Fayne will serve 5 years of supervised release. He is also ordered to pay over $4.4 million in restitution.
Fayne was arrested on May 11, 2020 and charged with defrauding the federal Paycheck Protection Program for over $3 million.
Fayne, who previously dated reality star Karlie Redd, reportedly applied for the funds for a trucking company that never turned a profit. He told the bank he needed the cash to pay 120 employees.
Prosecutors say Fayne spent over $2 million in coronavirus relief funds on jewelry, a Rolex wristwatch, cars, and child support payments.
Federal agents served a search warrant on Fayne’s Dacula home where they recovered $80,000 in cash, including $9,400 that Fayne had in his pockets. Feds seized a 2019 Rolls Royce Wraith with the dealer tag still on it.
In addition to bank fraud, Fayne was charged with running a six-year Ponzi scheme and defrauding 20 investors to cover large gambling debts, prosecutors said.
“Fayne used the investors’ money to pay his personal debts and expenses, and to fund an extravagant lifestyle for himself,” prosecutors said in a statement.