Karlie Redd ex-boyfriend Arkansas Mo Was Sentenced To 17 Years For A Fraudulent PPP Application

PPP Application

Another celebrity did a fraudulent PPP Application and got caught. Maurice Fayne aka Arkansas Mo who starred in love in hip-hop Atlanta with his ex Karlie Redd has been sentenced to more than 17 years in federal prison for conspiracy and wire fraud related to a Ponzi scheme, for bank fraud. He also and made false statements to a financial institution related to a fraudulent PPP application now according to an attorney.

From March 2013 through May of 2020 Fayne ran a multi-state Ponzi scheme that defrauded more than people who invested in his trucking business. Fayne promised that he would use the investor’s money to operate the business but instead, he used the money to pay his personal debts and expenses to fund an extravagant lifestyle for himself.

During the scheme, Fayne spent more than five million dollars at a casino in Oklahoma. In April of 2020, Fayne submitted a 3.7 million dollar PPP loan application to the United Community Bank falsely claiming that his trucking business had 107 employees and an average monthly payroll of over one million dollars.

Written by 

My name is L.A and I'm an entrepreneur. My hobbies are earning extra cash and having multiple streams of income. Hope you enjoy my website and find ways to save and earn extra cash.

Leave a Reply

Your email address will not be published. Required fields are marked *