HomeTrendingMo Faynes Million-Dollar Fraud Scheme; Check His Extravagant Lifestyle

Mo Faynes Million-Dollar Fraud Scheme; Check His Extravagant Lifestyle

Mo Fayne’s appearances in VH1’s ‘Love & Hip Hop: Atlanta’ didn’t leave anyone indifferent. Some loved him, some hated him, but everyone felt some particular way about the Arkansas-born entrepreneur; especially about his relationship with Karlie Redd.

Now, he’s being sent to jail for 17 years. And considering his full story, a lot of people are probably thinking one thing: he had it coming.

Mo Fayne, born Maurice Fayne and also known as Arkansas Mo, was born in 1983 in Little Rock, Arkansas. He became famous some time ago due to his relationship with ‘Love & Hip Hop: Atlanta’ Star Karlie Redd.

The couple got so far as to get engaged. But after a while, everything went down in shambles in front of the audience’s eyes. 

The VH1 show wasn’t Fayne’s bread and butter; he had other sources of income, and sometimes it seemed like he would rather not be in front of the cameras.

But every time he let the viewers get a peek at his relationship with Karlie Redd, he protagonized some scenes that were hard to forget for everyone.

Fayne prided himself on being a self-made man and an entrepreneur. He was the owner of a successful trucking company based in Georgia named ‘Flame Trucking’.

Maybe that was one of the reasons why Karlie Redd once told listeners of Young Joc’s radio show: “With Mo, he’s steady, he’s reliable, and he’s the type of man you want to build a future with.” At that time, she didn’t have a clue of how wrong she was.

However, considering Karlie’s background, it’s only natural that she would be attracted to a man who portrayed himself as a go-getter and an entrepreneur.

She probably felt like Fayne was someone who shared her ambitious and determined character: Karlie herself is the owner of several successful businesses, aside from her ventures in TV and media.

For example, she’s the owner of a Merci Boutique, a store in North Point Mall, Atlanta, where she sells attire, shoes, and sunglasses. 

She has also launched Redd Remy Hairline, a range of hair-care products designed to give everyone the chance to emulate Redd’s own glossy locks. A part of the company’s revenue is destined to support pancreatic cancer research. But that’s not all.

Karlie Redd is also a published author: she has authored several books of erotic stories. Considering all of this, it is clear that Karlie is a go-getter, accomplished woman.

But when ‘Love & Hip Hop: Atlanta’ showed his relationship with Mo Fayne, viewers saw her at her most vulnerable. The couple’s relationship was a tumultuous one, and, looking back on it, it’s not surprising that it ended. And it was probably for the better.

The first time viewers knew about Mo Fayne was when Karlie appeared on the show with a $150,000 engagement ring. Then, Mo Fayne made some more appearances on the show that caused havoc with the audience.

For example, one of Fayne and Karlie’s most intense fights was about Fayne’s texting with his ex-girlfriend, who gave birth to his baby months after he proposed to Karlie. But that wasn’t all there was to the situation.

Karlie found out about it right after she had a miscarriage, so it’s quite understandable why she got so upset about it. When this happened, Karlie called the engagement off; but this wasn’t the end of it.

Months later, the couple had a therapy session to solve their issues. Fayne’s attitude during it was extremely inadequate, and many viewers commented on it shortly after. The consensus seemed to be that Fayne’s behavior was bordering on abuse and that it might hint at even deeper and more serious issues.

Considering Fayne’s background, some will probably think it wasn’t hard to tell that he was up to something shady. Still, who could have actually imagined that he was running a multi-million-dollar fraud scheme, which has ended up with him landing 17 years in jail?

But just wait until you hear about the details of Fayne’s scheme and how he spent the money.

According to the authorities, Fayne submitted a $3.7 million PPP loan application to United Community Bank in April 2020. These loans’ purpose was to help businesses struggling during the pandemic. 

Fayne said that he would use the loan to “retain workers and maintain payroll or make mortgage interest payments, lease payments, and utility payments related to his trucking business.” However, he spent it in a very different way.

According to the reports, he blew the money on all sorts of things, except for his trucking company: he spent it on child support, a new rolls Royce, and custom diamond jewelry.

He also used the loan money to start a new, unrelated business. But that’s not all: there was an even more off-the-walls thing he spent the loan on. 

Apparently, the man blew about 5 million dollars in a night in an Oklahoma casino! This is the more infuriating when one considers that the money could have helped small businesses that really needed it during the pandemic.

But that isn’t the end of it. According to the authorities, Fayne had other illegal enterprises going on at the same time.

According to the U.S. Attorney’s Office statement, Fayne had run a multimillion-dollar Ponzi scheme from March 2013 to May 2020, and defrauded more than 20 people who invested in his trucking business.

“The funds the program supplies serve as a lifeline to many businesses desperately trying to stay afloat during the pandemic, and unfortunately, his fraud helped deplete those precious dollars,” said Acting U.S. Attorney Kurt R. Erskine.

“This sentence should serve notice that the FBI and our federal partners will investigate anyone who misdirects federal emergency assistance earmarked for businesses who need it to stay afloat,” said Chris Hacker, Special Agent in Charge of FBI Atlanta. 

“We won’t tolerate anyone driven by personal greed to pocket American taxpayer money that should be going to those who need it.”


Most Popular