Feds:’Love & Hip Hop’ Star Used PPP Loan to Buy Jewelry, Rolls Royce

Feds:’Love & Hip Hop’ Star Used PPP Loan to Buy Jewelry, Rolls Royce

“Love & Hip Hop: Atlanta” star Maurice Fayne was arrested Wednesday and charged with bank fraud for allegedly defrauding a federal loan program meant to help small businesses keep their employees on the payroll.

Fayne, also known as “Arkansas Mo,” allegedly received more than $2 million from a loan through the federal Paycheck Protection Program and used more than $1.5 million to buy jewelry, lease a Rolls Royce and to pay child support, federal prosecutors said Wednesday.

Fayne, 37, submitted the loan application on behalf of his company, Flame Trucking, on April 15 and said it would be used to retain workers and complete other business-related actions, the U.S. Attorney’s Office for the Northern District of Georgia said in a statement.

“The defendant allegedly stole money meant to assist hard-hit employees and businesses during these difficult times, and instead greedily used the money to bankroll his lavish purchases of jewelry and other personal items,” Assistant U.S. Attorney Brian A. Benczkowski said in a statement.

Fayne declined to comment when reached via phone Wednesday evening and said he would release a statement at a later time.

Read the full story on NBCNews.com

Published at Thu, 14 May 2020 04:51:45 +0000