Arkansas Maurice Fayne, commonly known as Mo Fayne, is a rapper and truck owner from Arkansas. He is most known for appearing on VH1’s reality show “Love & Hip Hop.” Mo is also well-known for his romance with TV star Karlie Redd. As of 2021, Mo Fayne’s net worth is projected to be about $2 million. After his prosecution, he may be left with nothing now.
|Full Name||Arkansas Maurice Fayne|
|Birth Place||Little Rock, U. S.|
|Profession||Rapper, Truck Company Owner|
|Net Worth||$2 million|
Mo Fayne Childhood
Mo Fayne was born in 1983 in Little Rock, Arkansas, United States. There isn’t much information known regarding his childhood or parents. He must have studied at home, but we have yet to learn anything about his educational background.
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Mo Fayne Net Worth & Career
Fayne is essentially the proprietor of a trucking business. However, he has not provided any more information on his work. He rose to prominence after appearing in season 8 of the reality show “Love & Hip Hop: Atlanta.” The reality show centered on his relationship problems with his then-girlfriend, Karlie Redd.
Mo stated in the reality show that he is seeing another lady with whom he has a kid. The conflict between Fayne and Karlie throughout the series drew a lot of attention from viewers. Karlie was dissatisfied with Fayne because she saw him to be more domineering and harsh.
Aside from his continuing relationship turmoil with Karlie Redd, he drew a lot of notice in May 2020 when he was detained by local cops on bank fraud allegations. According to rumors, he took out a $2 million Paycheck Protection loan to keep his company running throughout the COVID-19 epidemic and lockdown.
Fayne, on the other hand, utilized the loan to purchase some of the expensive gifts, including a Rolex Presidential Watch, a 5.73-carat diamond ring, and a diamond bracelet. He only had $70,000 in cash in his pockets when he was detained.
Mo Fayne PPP Loan and Ponzi Scheme Prosecution
According to the US Attorney’s Office for the Northern District of Georgia, Maurice “Mo” Fayne, 38, pleaded guilty in May to conspiracy and wire fraud related to the Ponzi scheme, as well as bank fraud and making false statements to a financial institution in relation to lying to obtain a business loan through the Paycheck Protection Program (PPP).
According to the statement issued by the US Attorney’s Office, Fayne ran a multistate Ponzi scam from March 2013 to May 2020, defrauding more than 20 individuals who invested in his trucking company. He promised investors he would use their money to run the company, but instead used it to settle personal debts and support a “extravagant lifestyle,” including spending $5 million at an Oklahoma casino on one occasion, according to the statement. Fayne applied for a $3.7 million PPP loan in April of last year, fraudulently stating that the trucking company had 107 workers and a monthly salary of $1,490,200. According to the US Attorney’s Office, the loan money were intended to be used to “retain employees and sustain payroll or make mortgage interest payments, lease payments, and utility payments connected to his trucking company.”
Mo Fayne was recently sentenced to 17.5 years in prison for utilizing PPP loans to purchase luxury goods like as jewelry and a Rolls Royce. Fayne was sentenced to pay a $4,465,866 fine by a Georgia judge for PPP bank fraud. According to reports, Fayne was sentenced to 30 years in prison, but his sentence was lowered when he reached an agreement with prosecutors.
Mo Fayne’s Personal Life
Mo Fayne was in a relationship with Karlie Redd, a TV personality. During the reality show “Love & Hip Hop: Atlanta,” the couple enjoyed a whirlwind affair. Fayne allegedly proposed to her and the two subsequently married and went down the aisle together. Their marriage, however, did not last long since they divorced soon.
During their divorce, Fayne and Karlie reached an arrangement in which neither party received alimony. According to rumors, Fayne has handed Karlie his BMW.
Mo Fayne Net Worth & Career
Mo Fayne’s personal fortune is projected to be about $1.5 million as of 2021. He must have made a good living with his trucking company and his appearance on Love & Hip Hop: Atlanta. Fayne was sentenced to pay a $4 million fine, which is more than his current net worth. During a bank fraud probe last year, detectives confiscated $617,000 from his bank account and $80,000 in cash from his home. As of 2021, Mo Fayne’s net worth is projected to be about $2 million. After his prosecution, he may be left with nothing now