Reality TV star charged with fraud for misusing $2million PPP pandemic loan
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Fayne denied the allegations when initially interviewed by federal agents, but after a search of his home, they seized approximately $80,000 in cash, including $9,400 that Fayne had in his pockets, and the jewelry he allegedly purchased with the PPP funds.
'Love & Hip Hop: Atlanta' star Maurice Fayne aka Arkansas Mo was charged with federal bank fraud, according to the US Department of Justice.
Maurice Fayne became popular with his appearance on nine episodes of ‘Love & Hip Hop: Atlanta’ in season eight.
As for the scandal, he reportedly obtained a Paycheck Protection Program loan in the name of a trucking company, but allegedly spent the funds on himself.
The reality TV star was able to secure a loan for more than $2 million, saying it was for his payroll. However, he allegedly used more than $1.5 million on jewelry, including a Rolex Presidential watch, a diamond bracelet and a 5.73 carat diamond ring for himself.
He is also accused of using the federal funds to play $40,000 in child support, according to authorities.
The PPP program is meant to assist employees and small businesses battered by the coronavirus pandemic.
Fayne denied the allegations when initially interviewed by federal agents, but after a search of his home, they seized approximately $80,000 in cash, including $9,400 that Fayne had in his pockets, and the jewelry he allegedly purchased with the PPP funds, according to the DOJ.