According to new legal documents, the reality star, who appeared in season 8 of the VH1 series, will be on 5 years of supervision and still has to pay back $4.4 Million after he is released from prison.
AceShowbiz -Maurice “Mo” Fayne is about to spend a long time in prison. After pleading guilty in his PPP loan fraud case, the former star of “Love & Hip Hop: Atlanta” is facing up to 210 months, around 17 years and a half, in jail.
According to the new court documents obtained by TMZ, the reality star was hit with a prison sentence after pleading guilty to 6 counts, including bank and wire fraud. In return, the prosecutors dropped the other 14 charges. The 38-year-old star originally faced a 30-year-sentence in prison. Later when he’s finally released from jail, he will be on 5 years of supervised release and still has to pay back $4,465,865.55.
In the lawsuit, filed by the prosecutors back in May 2020, Maurice allegedly funded a lavish lifestyle during the COVID-19 pandemic with money from the Paycheck Protection Program. He previously applied for a PPP loan for his trucking business, named “Flame Trucking”, in April 2020. In his application, he cited losses due to the coronavirus outbreak and claimed that he employed 107 people with a monthly payroll of $1,490,200.
According to the documents, Maurice, who appeared in season 8 of the VH1 series, also reportedly used $40,000 to pay past-due child support. In addition, he allegedly used “more than $85,000 to buy a Rolex Presidential watch, a diamond bracelet, and a 5.73-carat diamond ring for himself, $136,000 for a 2019 Rolls-Royce Wraith and $907,000 to start a new business in Arkansas.”
The legal documents also stated when the federal agents asked Maurice whether he used any of the PPP loans to purchase the luxury car, Maurice simply said, “Kinda, sorta, not really.” The feds went on to claim they searched Maurice’s house and found a bag with about $70,000 in cash and another $9,400 stuffed in his pockets. They then seized $503,000 of the loan proceeds from 3 bank accounts owned or controlled by Maurice.
PPP loans were a part of the CARES Act, a federal law designed to provide emergency financial assistance to the millions of Americans suffering the economic fallout from the COVID-19 pandemic.
Source: Read Full Article