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Fayne owns a trucking company in Arkansas and Georgia, Flame Trucking, and he told federal agents he used PPP loan proceeds only for payroll and other qualifying expenses, court documents
show. He denied paying personal debts and expenses using loan money. PPP loans may be used only for payroll, mortgage interest, rent and utilities. Loan interest and principal may be
forgiven if businesses spend loan money on those expenses within eight weeks and use 75 percent of the funds for payroll. Phone calls to Fayne and his Atlanta attorney, Tanya Miller, were
not returned. HOW DID THREE TRUCK DRIVERS TURN INTO 107 EMPLOYEES? The U.S. Department of Transportation identification numbers for Flame Trucking LLC, based in Little Rock, Arkansas, and
Flame Trucking Inc., of Lawrenceville, Georgia, list no more than three trucks and three drivers. Yet, in a sworn affidavit underpinning the criminal complaint, FBI Special Agent Paul Fike
alleges that Fayne submitted the PPP loan application April 15 to the United Community Bank in Blairsville, Georgia, certifying his company employed 107 people with an average monthly
payroll of $1.49 million. Fayne attested that loan proceeds would be used to retain workers, maintain payroll or make mortgage interest payments, and submitted 2019 Arvest Bank statements to
buttress his financial claims. The bank statements were fabricated, the complaint alleges. After receiving the PPP loan, around April 23, Fayne began transferring some of the proceeds,
including $80,000 in payments for outstanding personal loans and $350,000 to an Arkansas woman described in the affidavit as “C.W,” who told a Wells Fargo Bank investigator that Fayne is her
brother. C.W. told the investigator that she transferred $84,000 to a jewelry story in Duluth, Georgia, for “investment” and paid a woman in Arkansas $40,000 for “child support completion,”
at Fayne's request. The complaint notes that “loan payments, jewelry purchases and child support payments are not authorized uses of PPP loan proceeds." A DEFENDANT WITH EXPENSIVE
TASTES
