Maurice Fayne, 38, has been sentenced to federal prison for his part in a Ponzi scheme.
Fayne may be best known for his role in season eight of the VH-1 reality television show “Love & Hip Hop: Atlanta.”
WSBTV reported he was convicted of conspiracy and wire fraud and will spend 17 years behind bars.
Prosecutors said Fayne ran the illegal operation across several states, defrauding more than 20 people who invested in his trucking business from 2013 to 2020.
Investors thought they were giving Fayne the money to run his business, but instead, prosecutors said he used it to pay for his lifestyle, even spending $5 million of their money at an Oklahoma casino, WSBTV reported.
Prosecutors said Fayne applied for a $3.7 million PPP loan in April 2020 that said he employed 107 people with a $1.5 million monthly payroll.
“Fayne planned to use the PPP program as a cover for his long-running Ponzi scheme,” Acting U.S. Attorney Kurt R. Erskine said. “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.”
Instead, Fayne used the money for child support, restitution for a previous case, custom-made jewelry and to lease a Rolls-Royce, prosecutors said.
In addition to jail time, Fayne was ordered to pay more than $4.4 million in restitution, WSBTV reported.
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