May 13. 2020

Maurice Fayne

"Love and Hip Hop Atlanta" reality star Maurice Fayne, who goes by the nickname Arkansas Mo, has been arrested by the U.S. federal government for stimulus loan funds fraud. The U.S. government currently has a loan initiative, Paycheck Protection Program (PPP), to assist business owners during the coronavirus pandemic. Legitimate businesses are permitted to borrow money from the government to cover items such as payroll.

37-year-old Fayne, registered a trucking business in the state of Georgia called Flame Trucking." He applied for $3,000,000 in federal PPP loan money and received $2,200,000, with the understanding it was to be used for his business. He stated the money was to pay his employees salaries. However, Fayne used $1,500,000 of the money to purchase a Rolex Presidential watch, a diamond ring and bracelet. He also used $40,000 of the funds to pay for child support.

When the authorities raided his property they confiscated and additional $90,000 in cash. It is believed he also bought a Rolls Royce with a portion of the PPP loan money. The government has characterized Fayne's conduct as an abuse of the program. He has pleaded not guilty to bank fraud charges.

STORY SOURCE

Maurice Fayne From ‘Love & Hip Hop: Atlanta’ Charged With Fraud For Acquiring $2.2 Million Pandemic Assistance Loan

May 13, 2020- Former Love & Hip Hop: Atlanta star Maurice Fayne also known as Arkansas Mo, is in trouble for obtaining $2.2 million PPP Pandemic loan. According to The Hollywood Reporter, Fayne is being charged with federal bank fraud by the U.S. Department of Justice. Per the outlet, Fayne acquired a Paycheck Protection Program (PPP) loan under a trucking company alias. However, Fayne used the fund to purchase things for himself...

https://balleralert.com