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Trucking Company Owner Facing Federal Prison For Financial mismanagement of PPP Funds

According to the Department of Justice, Flame Trucking owner Fayne applied for and was granted a PPP loan application for his business Flame Trucking.

On his application, he stated that his business had 107 employees and an average monthly payroll of $1,490,200 and asked for a loan amount of $3,725,500.

Feds say he used $2,045,800 in PPP funds

As soon as Fayne took control of the PPP loan proceeds, he began using the PPP loan proceeds for improper purposes, including the following:

  • $40,000 for past-due child support;
  • $50,000 for restitution owed in a previous fraud case;
  • $65,000 in cash withdrawals;
  • $85,000 for custom-made jewelry;
  • $136,000 to lease a 2019 Rolls-Royce;
  • $230,000 to associates who helped him run a Ponzi scheme;
  • $907,000 to help an associate start a new business.

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