Raper Mo Faynehe will leave for a long time for his role in a PPP loan fraud case … he has just been sentenced to 210 months in prison, that is, 17.5 years.
According to the new legal documents, obtained by TMZ, the star of “Love & Hip Hop: Atlanta” was sentenced to prison after pleading guilty to 6 crimes, including bank fraud and bank fraud.
Remember … prosecutors alleged that he financed a lavish lifestyle during the pandemic with money from the Wage Protection Program. The money was intended to help employees and small businesses affected by COVID.
Fayne had suspended an agreement with prosecutors … who agreed to drop 14 other charges and recommend Fayne a 151-month sentence. Instead … the judge hit him with almost 5 more years behind bars. The silver lining … was looking at a possible 30-year sentence if it didn’t reduce that deal, so take it for granted.
According to the Justice Department … Fayne filed a $ 3.7 million PPP loan application, falsely claiming that his truck business had 107 employees and an average monthly payroll of $ 1,490,200.
Federals say Fayne promised to use the PPP loan to retain workers and keep payroll, but instead used it for inappropriate purposes … including $ 40,000 for overdue child support, $ 85,000 for for jewelry, $ 136,000 for a Rolls-Royce and $ 907,000 to start a new business in Arkansas.
After being released from prison … Fayne will be on supervised release for 5 years. You also have to pay a huge refund bill … a whopping $ 4,465,865.55.