Rapper and “Love & Hip Hop: Atlanta” star Mo Fayne is facing serious time behind bars after pleading guilty to 6 counts of federal bank fraud.
According to TMZ, prosecutors say the rapper funded a lavish lifestyle during the pandemic with funds from a Paycheck Protection Program loan.
Fayne was ordered to turnover nearly $100k from several bank accounts as well as 8 2015 Kenworth T680 trucks he purchased.
Feds dropped 14 other charges against Fayne in exchange for his plea, and agreed to recommend a 151-month prison sentence. Dropping his potential prison time down from a max of 30 years to 12.5 years.
Authorities say Fayne used a PPP loan of over $2M to buy to pay of a load of personal debt and also to purchase $85,000 worth of jewelry.
