Should I break up with my fiance?

I've known him since February 2015 and we've always had a good friendship, and we started dating on April 9 this year and we just got engaged recently. I know we're moving fast but I'm only allowing it cuz I've known him for a while. I Have a good relationship with his mom and my sister is worried and his mom understands that my sister is trying to protect me. Here's the story. My fiance keeps getting in trouble and he's being monitored by the FBI right now and he's in the hospital AGAIN for the 3rd or 4th time since we started dating. This time it's because he used his mom's card to buy some part to an AK47. His mom told me he's never hurt anyone except for cutting himself and he has depression and mental issues. And he keeps going in and out of the hospital and it's also making me pissed and fed up. Should I break up with him?
P. S. his mom did say she understands if I choose to give up on him and that he needs to learn hard this time.
Should I break up with my fiance?
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