HomeOutlaw TruckingTrucking Company Owner Facing Federal Prison For Financial mismanagement of PPP Funds

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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