Feds: ‘Love & Hip Hop’ star spent emergency business loan on jewelry, Rolls Royce – By Shaddi Abusaid (The Atlanta Journal-Constitution) / May 13 2020
Federal prosecutors have charged a “Love & Hip Hop: Atlanta” star with bank fraud after authorities said he used funds from the Paycheck Protection Program to purchase expensive jewelry, lease a car and make child support payments.
Maurice Fayne, who goes by the name Arkansas Mo on the hit VH1 show, borrowed more than $2 million from the federal program designed to keep struggling businesses afloat amid the COVID-19 pandemic, the Department of Justice said Wednesday in a news release.
Authorities said he borrowed the money for his transportation business, Flame Trucking. On his application requesting more than $3.7 million for his company, he said he had 107 employees and a monthly payroll of nearly $1.5 million, prosecutors said.
Fayne certified that the loan proceeds would be used to retain workers, maintain payroll and make payments, the DOJ said in a news release. The reality TV star received just over $2 million.
Continue to article: https://www.ajc.com/news/crime–law/feds-love-hip-hop-star-spent-emergency-business-loan-jewelry-rolls-royce/TDWt4RKhNNnkHqcIogQHrO/
