TheTrucker.com

Reality TV star sentenced for trucking business Ponzi scheme, fraud

Reality TV star sentenced for trucking business Ponzi scheme, fraud
Reality TV star Maurice Fayne, known as “Arkansas Mo,” has been sentenced to more than 17 years in prison and ordered to pay nearly $4.5 million in restitution for conspiracy and wire fraud related to his trucking business.

ATLANTA — A former cast member on the reality television show Love & Hip Hop: Atlanta has been sentenced to more than 17 years in federal prison for conspiracy and wire fraud related to a Ponzi scheme and related charges involving a fraudulent Paycheck Protection Program loan application.

U.S. District Judge Mark H. Cohen sentenced Maurice Fayne, also known as Arkansas Mo, to 17-and-a-half years behind bars and five years of supervised release. Fayne, 38, of Dacula, Georgia, also was ordered to pay restitution of nearly $4.5 million to the victims.

Fayne, who was indicted on the charges in 2020 pleaded guilty to the charges on May 11. Those also included charges of bank fraud and making false statements to a financial institution involving a loan application for the Paycheck Protection Program, or PPP.

“Fayne planned to use the PPP program as a cover for his long-running Ponzi scheme,” said Acting U.S. Attorney Kurt R. Erskine in a news release Sept. 15. “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.”

Erskine said from March 2013 through May 2020, Fayne ran a multistate Ponzi scheme that defrauded more than 20 people who invested in his trucking business. Instead of using investors’ money to operate the business, he used the funds to pay personal debts and expenses and to fund an extravagant lifestyle, Erskine said.

During the scheme, Fayne spent more than $5 million at a casino in Oklahoma, the U.S. Attorney’s Office for the Northern District of Georgia said.

In April 2020, Fayne submitted a $3.7 million loan application to United Community Bank, falsely claiming that his trucking business had 107 employees and an average monthly payroll of $1.4 million.

Prosecutors said that instead of using the money to retain workers and other business expenses, Fayne used the loan to cover expenses including $40,000 in past-due child support, $50,000 for restitution owed in a previous fraud case, $85,000 for custom-made jewelry, $136,000 to lease a Rolls-Royce and $907,000 to start a new business in Arkansas.

Fayne appeared on season 8 of VH1’s Love & Hip Hop: Atlanta as the love interest of longtime cast member Karlie Redd.

The Associated Press is an independent global news organization dedicated to factual reporting. Founded in 1846, AP today remains the most trusted source of fast, accurate, unbiased news in all formats and the essential provider of the technology and services vital to the news business. The Trucker Media Group is subscriber of The Associated Press has been granted the license to use this content on TheTrucker.com and The Trucker newspaper in accordance with its Content License Agreement with The Associated Press.
For over 30 years, the objective of The Trucker editorial team has been to produce content focused on truck drivers that is relevant, objective and engaging. After reading this article, feel free to leave a comment about this article or the topics covered in this article for the author or the other readers to enjoy. Let them know what you think! We always enjoy hearing from our readers.

COMMENT ON THIS ARTICLE