Atlanta Reality Star charged with federal bank fraud for misusing PPP Funds
- Thread starter King_of_Posts
- Start date
nigga 210 months was the plea deal.. holy shit Lol
Fayne had cut a plea deal with prosecutors ... who agreed to drop 14 other charges and recommend Fayne get a 151-month sentence. Instead ... the judge hit him with nearly 5 more years behind bars. The silver lining ... he was staring down a possible 30-year sentence if he didn't cut that deal, so take that for what it's worth.
According to the Dept. of Justice ... Fayne submitted a $3.7 million PPP loan application, falsely claiming his trucking business had 107 employees and an average monthly payroll of $1,490,200.
The feds say Fayne promised to use the PPP loan to retain workers and maintain payroll but instead used it for improper purposes ... including $40k for past-due child support, $85k for for jewelry, $136k for a Rolls-Royce, and $907k to start a new business in Arkansas.
After he's released from prison ... Fayne will be on 5 years of supervised release. He also has to pay a huge restitution bill ... a whopping $4,465,865.55.
Fayne had cut a plea deal with prosecutors ... who agreed to drop 14 other charges and recommend Fayne get a 151-month sentence. Instead ... the judge hit him with nearly 5 more years behind bars. The silver lining ... he was staring down a possible 30-year sentence if he didn't cut that deal, so take that for what it's worth.
According to the Dept. of Justice ... Fayne submitted a $3.7 million PPP loan application, falsely claiming his trucking business had 107 employees and an average monthly payroll of $1,490,200.
The feds say Fayne promised to use the PPP loan to retain workers and maintain payroll but instead used it for improper purposes ... including $40k for past-due child support, $85k for for jewelry, $136k for a Rolls-Royce, and $907k to start a new business in Arkansas.
After he's released from prison ... Fayne will be on 5 years of supervised release. He also has to pay a huge restitution bill ... a whopping $4,465,865.55.
I'm sure there are people all over the country pissing in their pants right now.
The thing is people are doing dumb shit with the money. The rules are practically laid out to the point where it's saying "we got some free money for y'all if y'all can " prove" a business, and follow the steps to cover your ass, or else we coming for that ass."
The loans are intended for specific purposes and that means what you can spend funds on are limited and you definitely not allowed to spend it on your self.
It isn't a personal loan, it's more of a business loan and he got it to pay the things he said in the loan process, that right there is fraud.
DAMN 17 YEARS!
To flex a Rolex and a Rolls for a year
stupid
To flex a Rolex and a Rolls for a year
stupid
17.5 years
They is over sentencing
They like to make examples of folk to send out a warning.
He stole 2 million dollars of pandemic money during a time of national emergency.
Money that could have went to people who really needed it.
Crackas spent 330 million a day in Afghanistan or waste billions doing dumb shit.
Nigga, who da fuck cares?! If you haven't figured out by now that Black folks can't do da same shit as those peckerwoods then you've already lost. Da shit ain't rocket science.
buh buh buh but,....
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