Trucking company owner spends PPP funds on jewelry, Rolls-Royce

Trucking company owner spends PPP funds on jewelry, Rolls-Royce

Reality star Arkansas Mo has allegedly used an emergency loan obtained under the federal government’s PPP to lease a car and buy jewelry in addition to making child support payments. Fayne, the sole owner of Flame Trucking in Georgia, received a $2 million bank loan of which he spend $1.5 million on unauthorized purchases. Fayne has been arrested and charged with bank fraud.

KCooper
KCooper
Jerry
Jerry 3 months

Although this case may be fraudulent as the story indicates an arrest, I know a business owner that obtained a 6-figure "loan" under the government's program for his "business" that he uses as an advertising write-off for his car racing habit. Under this program, the "loans" are forgiven (never need paid back) if used within the guidelines of the program - which is based on 2018 tax returns. So basically the owner I know was given a 6-figure government "grant" to spend on race cars and racing equipment for his own entertainment, because that is what his "business" expenses were in 2018 - all legal and legitimate. This the the result of ill-conceived rushed-through government handout programs, all of which cost the honest tax-payers in the long run.

Jeremy
Jeremy 3 months

He paid his child support with emergency funds... classy 🤦🏻‍♂️

Jay
Jay 3 months

One chance to do the right thing and they blow it! One word for him,.... J A I L !

Andrew Montague
Andrew Montague 3 months

Not one of the world's great criminal minds... 😂

Change Matters
Change Matters 3 months

So let me me get this straight. Boeing negotiates with federal government for a bailout but "declines" after the government tries to limit executive bonuses, so Boeing issue bonds... The fed props up the bond market in the multiple billions to assure Liquidity without government oversight and its it's all good. This essentially just cut a couple of corners and he is being investigated for fraud.

Commodore
Commodore 3 months

🤦🏾‍♂️seriously, dude? WTF?🤦🏾‍♂️

Dear
Dear 3 months

Scum

oscar g
oscar g 3 months

The stupidity of people never surprises me

ConcealCarryProtect
ConcealCarryProtect 3 months

The government wastes our taxes all the time, yet we care this much when a citizen does it?

eclipseNF
eclipseNF 3 months

Wtf lol

my opinion may offend you
my opinion may offend you 3 months

The trucking company should be seized along with all of his assets. His assets go to pay back the loan anything else goes in a trust for his kids. (not coontroledby thier mother) As for the trucking company hire a manager to run it so the 107 employees have jobs.

Lora
Lora 3 months

Shades of 1970s-80s afdc recipients in Denver

Seekster
Seekster 3 months

People have no sense of shame anymore.

Bryan_with_a_why
Bryan_with_a_why 3 months

This is called moral hazard. When you bail out irresponsible companies under the guise of saving people, there will always be those who take advantage of the system and not learn their lesson, only to repeat it over and over. This isn't capitalism, this isn't free markets. This is businesses privatizing gains and socializing losses. Imagine if you could go to the casino and the govt lets you keep all gains and reimburses you if you lose. This is govt corruption at it's finest (worst) and it will continue until people FIGHT BACK and not fall for the "free money" offers...

riheg
riheg 3 months

Well what do you think the CEOs do? One mayor bank CEO just got a 20% raise, and the shareholders get a taxpayer funded cash shower

White mana matters
White mana matters 3 months

Ha, the system Works!

Fatman in Paradise
Fatman in Paradise 3 months

Did you expect anything less? Yes?! ...I've got bridge i wanna sell if you're interested...?

player
player 3 months

Can you bankrupt when u borrow for G-man(Government), or they will throw you in jail.

Will PT
Will PT 3 months

Am I the only one offended that "Arkansas Mo" lives in Georgia?

Bryan_with_a_why
Bryan_with_a_why 3 months

Whoa, people spending other people's money irresponsibly? How is this possible!!??

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