Love & Hip Hop: Atlanta star Mo Fayne is facing federal charges bank fraud.
A press release from the United States Department Justice on Wednesday (May 13) accuses the reality star, real name Maurice Fayne, deceitfully obtaining a small business loan meant for COVID-19 relief. Instead using the loan for its intended purpose, the feds allege that Karlie Redd’s occasional boyfriend used the Paycheck Protection Program loan money to buy jewelry and pay f personal debts.
Per the report, Fayne submitted a PPP loan application for a company named Flame Trucking back in April, claiming 107 employees and a $1.5 million average monthly payroll. Within days being approved for just over $2 million, Fayne is accused using more than $1.5 million it on a Rolex Presidential watch, a diamond bracelet, a diamond ring, a 2019 Rolls-Royce Wraith and $40,000 in back child support, among other things.
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In a search Fayne’s Georgia home on Monday (May 11), agents seized approximately $80,000 in cash ($9,400 which was reportedly in his pockets) and the jewelry he bought. The Wraith was found at the residence as well, which the report noted still had a temporary dealer tag on it.
In a statement, Assistant Attorney General Brian A. Benczkowski the Justice Department’s Criminal Division summarized it by accusing Fayne stealing money meant to “assist hard-hit employees and businesses during these difficult times, and instead greedily used the money to bankroll his lavish purchases jewelry and other personal items.”