Hell 2 Da Naw: Love & Hip Hop ATL Star Arrested For PPP Fraud
Small businesses have been struggling during this pandemic and many have needed funds from the federal government to insure that their businesses wouldn't shut down which why the Federal Government created the Paycheck Protection Program.
But as you know, not many small business got a hold of those funds because BIG corporations and their banking buddies sucked the money dry but you can also blame a few fraudsters for it as well including one of the stars of the reality TV series "Love & Hip Hop Atlanta".
According to CNN, Maurice Fayne, also known as "Arkansas Mo",was arrested and charged with federal bank fraud after misusing funds from a Paycheck Protection Program ("PPP") loan he received. Fayne runs a company called "Flame Trucking" which received over $2 million dollars from his bank and claimed that loan proceeds would be used to "retain workers and maintain payroll or make mortgage interest payments, lease payments, and utility payments, as specified under the Paycheck Protection Program Rule," according to the report.
But what did "Mo" do with that money? He didn't give it to his "employees" nor put it back into his business. Instead, according to investigators, he spent roughly $1.5 Million of the loan proceeds for what I call "The Rapper Starter Kit" of jewelry and cars.
Fayne spent $85,000 in jewelry, including a Rolex watch, a diamond bracelet, and a 5.73 carat diamond ring for himself, leased (cuz why buy when you can lease) a 2019 Rolls-Royce Wraith but here's the part that I have no problem with: paid $40,000 for child support.
Because lord knows, if you pull up in a new Rolls Royce and your baby momma see you, you're gonna be in bigger trouble with her and you'll be wishing law enforcement would come and save you.
Fayne told agents that he believed he had the right to use part of the PPP loan proceeds for 'other business purposes' and for 'working capital' according to court documents but federals agents are still charging him bank fraud and he's since been released on bail.
I'm not one to knock someone's hustle but come on man, you could've did so much more with that dough but instead, used it on you but hey, smart move making sure your baby momma got hers. But Arkansas Mo still got get this award of dumbassery.