'LHHATL' Star Arkansas Mo Fayne Has Secured a Sizable Net Worth Thanks to His Trucking Company

Sep. 16 2021, Published 12:22 p.m. ET

Former Love & Hip Hop Atlanta forged member Arkansas Mo Fayne — born Maurice Fayne — made slightly the affect on audience, in the beginning. Fans first of all appreciated the theory of Arkansas Mo and Karlie Redd being an merchandise. Arkansas Mo was once a a ways cry from different men Karlie dated and used to be a self-made guy with a successful trucking company. However, audience quickly modified their music as soon as Karlie shed light on their abusive relationship.

Now, it appears that Fayne has different issues to worry about, together with his jail stint. The former truth big name used to be convicted of Paycheck Protection Program (PPP) mortgage fraud and given a stiff prison sentence. However, since a stipulation of his settlement is to pay restitution for his crime, social media has one query in mind: What is Fayne’s net worth? Read on to get your resolution.

Fayne’s net worth is reportedly within the tens of millions.

If you’ve watched LHHATL Season 8, you’re most likely aware of what Fayne does for a residing. Aside from moving into the truth TV global, Fayne owns a a hit trucking business.

While most fact show salaries are a huge chunk of a celeb’s net worth, that’s now not the case for Fayne.

Some resources put Fayne’s net worth between $1 million and $3 million. Other outlets have reported that his nest egg currently sits at $4.5 million. This figure is strictly from his trucking trade, Flame Trucking Company.

While Fayne has yet to confirm his actual net worth, it’s safe to assume that he’s within the million-dollar ball park.

Fayne was once sentenced to 17.5 years in federal jail for PPP loan fraud.

You do the crime, you have to do the crime. Thanks to the coronavirus pandemic, many celebrities and everyday other folks alike who own businesses had been in a position to search out some reprieve throughout the PPP mortgage program.

The PPP mortgage program used to be installed place to help small companies pay their employees all the way through the pandemic. However, The Atlanta Voice stories that Fayne made up our minds to profit from the financial assist he gained.

The outlet shares that Fayne used to be sentenced to 17 years and 6 months in federal jail after pleading in charge to conspiracy and wire fraud related to a Ponzi scheme, bank fraud, and making false statements to a monetary establishment associated with a fraudulent PPP mortgage application on May 11, 2021.

Fayne can even need to serve five further years of supervised liberate and has been ordered to pay restitution within the quantity of $4,465,865.55 to the sufferers.

Fayne reportedly submitted a PPP loan utility for $3.7 million to United Community Bank, falsely claiming that his trucking industry had 107 workers and a median per month payroll of $1,490,200, in April 2020.

Acting U.S. Attorney Kurt R. Erskine stated in a remark, “Fayne ran a multistate Ponzi scheme that defrauded greater than 20 people who invested in his trucking industry. Fayne promised that he would use the buyers’ money to function the industry.”

He persisted, “Instead, he used the money to pay his private money owed and expenses and to fund an extravagant way of life for himself. During the scheme, Fayne spent more than $5 million at a casino in Oklahoma.”

Other incorrect functions Fayne used the PPP mortgage price range for come with $50,000 for restitution owed in a prior fraud case, $65,000 in money withdrawals, $85,000 for custom-made jewellery, $136,000 to lease a Rolls-Royce, $230,000 to associates who helped him run a Ponzi scheme, and $907,000 to begin a brand new industry in Arkansas.

Authorities seized $617,000 from seven financial institution accounts, $136,000 used as a down payment at the 2019 Rolls-Royce, $79,482 in cash seized at Fayne’s place of abode, 8 Kenworth T-680 trucks, six Great Dane refrigerated trailers, a $3,750 diamond ring, a $24,500 diamond bracelet, and a $52,000 Rolex watch all through the investigation.

It’s comprehensible that the pandemic took a toll on a large number of other folks’s budget, but it’s now not a believable reason to commit fraud. Fayne is now going to spend a large number of time at the back of bars for his crimes.

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