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'Love and Hip Hop' Star Mo Fayne Pleads Guilty in PPP Loan Fraud Case

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From: TMZ

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Rapper Mo Fayne's looking at serious time behind bars -- but less than he might have gotten -- after cutting a plea deal in his PPP loan fraud case.


The "Love & Hip Hop: Atlanta" star pled guilty to 6 counts of federal bank fraud after prosecutors say he funded a lavish lifestyle during the pandemic with a Paycheck Protection Program loan. Y'know ... the ones intended to help employees and small businesses hit hard by COVID.

In docs, obtained by TMZ, Fayne was ordered to forfeit nearly $100k from several bank accounts as well as 8 of his 2015 Kenworth T680 trucks. Yes, he bought EIGHT trucks!!!

In exchange for his plea, the feds dropped 14 other charges and agreed to recommend Fayne get a 151-month prison sentence -- about 12.5 years -- and that's prosecutors going easy on him! Before the deal, he was staring down a possible max of 30 years.

As we reported ... Fayne was accused of using a PPP loan of over $2M to buy $85,000 worth of jewelry and pay off a bunch of personal debts, including child support.


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TMZ.com
Mo's been locked up since December for violating the terms of his bond, but he's now asking to be let out before the judge issues his sentence in September.


He argues he's NOT a threat to flee or a danger to the community. What's more ... Fayne says he wants out so he can see his doctor to treat a shoulder injury that required surgery last year, but was put on hold due to the pandemic.

Fayne also says, due to his history of asthma and use of an inhaler, he's in a high-risk group to contract COVID-19 while behind bars -- but that argument will probably be DOA in court. The feds have said all inmates will be offered vaccines.



If that argument doesn't work ... Fayne also says he wants to help his 18-year-old daughter prepare for college, and organize his day-to-day household affairs before beginning his long stint in prison.

'Love & Hip Hop' Star Mo Fayne Pleads Guilty in PPP Loan Fraud Case
 

skimup1

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Yep. Sounds about right. Average sentence for these clowns will probably be 4 to 10 years for amounts over 50K. He got 12.5 AFTER they dropped multiple other charges.

That's the game. Stack and they'll plead.

Now, will they let this asshole out early....hell naw. But I've been wrong before

Sleep well, you scamming sh!ts.
 

jwill

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Well at least he paid off his child support- unfortunately he’s a thief.

Clout is a hell of a drug! Imagine looking at being released in the summer of 2033 behind social media stunting e2
 

SlayCoulee

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I don’t understand why people think they can get over on these loans. They will catch you!
 

flytraphaus

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Yep. Sounds about right. Average sentence for these clowns will probably be 4 to 10 years for amounts over 50K. He got 12.5 AFTER they dropped multiple other charges.

That's the game. Stack and they'll plead.

Now, will they let this asshole out early....hell naw. But I've been wrong before

Sleep well, you scamming sh!ts.
Fed time. You do every single day. Not like the state penitentiary
 

skimup1

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Fed time. You do every single day. Not like the state penitentiary
I was referring to his request to be released before official sentencing as far as an early release.

Of course bc of his plea He will have to do the time. He will never be able to appeal it bc of the nature of a fed plea.

But the fact is that they stacked his charges to equal a
a potential of 120 plus years if convicted in court.

This plea was about 10 percent of that potential, to make his lawyer feel special.

They have a target amount of time that they want you to sign for, and this dumb ass crime makes it extremely easy for them to do so. It truly was a fool's paradise lol
 

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Well at least he paid off his back child support. Hopefully he broke the baby mama(s) off with a small stash before he got picked up. I feel bad for his kids. 12-30 years is fµck!ng excessive but the Feds do not fµck!ng play.


Thankfully my PPP app was denied
 

KitKatt

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Chile I know soooo many people who got these PPP loans. I have a feeling we will be hearing a lot of these stories
 

AmIRight

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In docs, obtained by TMZ, Fayne was ordered to forfeit nearly $100k from several bank accounts as well as 8 of his 2015 Kenworth T680 trucks. Yes, he bought EIGHT trucks!!!

Why didn't he use those trucks to actually get trucking contracts with real corporations? A lot of them are going into logistics deals with independent contractors to keep the supply chain going. Just out here scamming when he could have won. I hope his daughter does well with her life.

Mona S. better put these people back to work soon, or the show will have to be renamed Locked Up & Hip Hop.
 

skimup1

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Why didn't he use those trucks to actually get trucking contracts with real corporations? A lot of them are going into logistics deals with independent contractors to keep the supply chain going. Just out here scamming when he could have won. I hope his daughter does well with her life.

Mona S. better put these people back to work soon, or the show will have to be renamed Locked Up & Hip Hop.
Didn't matter. He lies to get the money anyway. Might as well spend it on something he actually gave af about.
 

SammyK

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Chile I know soooo many people who got these PPP loans. I have a feeling we will be hearing a lot of these stories

do the loans have to be payed back? My friend has a small business with 4 employees and received 70k last year. However I honestly don’t think the business even makes That yearly. It’s a side business for him he has a full time job.
 

three6gothia

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do the loans have to be payed back? My friend has a small business with 4 employees and received 70k last year. However I honestly don’t think the business even makes That yearly. It’s a side business for him he has a full time job.

They're forgivable but I think he got busted for not having real operations + using for personal reasons. Your friend might be fine as long as he can prove he didn't do anything personal with the money.
 

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do the loans have to be payed back? My friend has a small business with 4 employees and received 70k last year. However I honestly don’t think the business even makes That yearly. It’s a side business for him he has a full time job.

Nope. They don’t have to be paid back.

I wonder how they determine the amount they give?

I know a girl who does hair & got 97K
 

SammyK

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They're forgivable but I think he got busted for not having real operations + using for personal reasons. Your friend might be fine as long as he can prove he didn't do anything personal with the money.

interesting, I would never pry into his finances but he lives modestly so hopefully he used it for business purposes only.
 

BAYBE

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He purchased 8 2015 trucks? These people want to get caught because what was the reason?
 

skimup1

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do the loans have to be payed back? My friend has a small business with 4 employees and received 70k last year. However I honestly don’t think the business even makes That yearly. It’s a side business for him he has a full time job.
They dont make that. He is fraudulent. The max per employee is 10K. So he is saying he pays those 4 people: 7K per person, per month? Yeah, he is scamming. As well, that means he has an annual payroll of over 300K that he personally pays those people, while still working a "full' time job.....
They're forgivable but I think he got busted for not having real operations + using for personal reasons. Your friend might be fine as long as he can prove he didn't do anything personal with the money.
He got busted because it was rotten and fake from the beginning. He and everyone else knows that he didn't have a business that would cause him to have that much money going out in payroll.
People have been cheating uncle Sam for years, and thought they were doing to do it again....they were wrong, and I personally think that even though this clown will probably get that 12.5 years, it should be closer to 30.

The feds need to show these assholes that they aren't playing.

Right now, people think it's a game. I believe that they won't be laughing for too much longer though....
 

SammyK

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They dont make that. He is fraudulent. The max per employee is 10K. So he is saying he pays those 4 people: 7K per person, per month? Yeah, he is scamming. As well, that means he has an annual payroll of over 300K that he personally pays those people, while still working a "full' time job.....


Now that you break it down, yeah he lied on the application. I don't know much about the loans so I didn't inquire. Hes not the brightest bulb in the shelf so I wouldn't be surprised if he is busted.
 

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