Source: Vh1 / Via VH1
Reality Star Mo Fayne has been sentenced to 17 years in prison.
This is due to his involvement in a PPP loan fraud case.
Word is that Fayne submitted a $3.7 million PPP loan application and falsely claimed his company had 107 employees and a monthly payroll of $1,490,200. The PPP loan that Mo obtained was in the name of Flame Trucking.
As reported by TMZ, Fayne cut a deal and pleaded guilty to 6 counts, including bank and wire fraud. He then took the money, funded his lifestyle, and bought items like a Rolls Royce and jewelry, and he even tried to start a business.
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In return prosecutors dropped 14 other charges. Still even though he faced a 30-year-sentence he ultimately ended up with a whopping 17.5 years. The Georgia native, Fayne, 37, is looking to get out when he is 54 years old.
Fayne will now have to pay back almost $5 million.
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‘Love & Hip Hop’ Star Mo Fayne Sentenced to 17 Years in Prison for PPP Loan Fraud was originally published on rnbphilly.com
