"Love & Hip Hop: Atlanta" star Maurice Fayne, who goes by the name Arkansas Mo, is in some hot water with the law after allegedly using a COVID-19 relief loan to buy millions of dollars worth of jewelry. Last month, Mo had requested a loan of $3,725,500 from a Paycheck Protection Program (PPP), which helps to cover up to eight weeks of payroll costs, interest on mortgages, rent, and utilities for small businesses amid the coronavirus pandemic. Mo sought out this loan to protect his Flame Trucking business, claiming that the money 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." He was ultimately granted $2,045,800 from the United Community Bank, a good portion of which he allegedly used for personal expenses.
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According to the U.S. Department of Justice, Mo has been accused of spending over $1.5 million of the loan to buy $85,000 worth of jewelry, including a Rolex Presidential watch, a diamond bracelet, and a 5.73 carat diamond ring. He also allegedly used $40,000 of the loan to pay child support.
Mo denied all of these accusations, but when the feds searched his house, he didn't look so good. They found the aforementioned jewelry, and seized $80,000 cash as well as three bank accounts that Mo had allegedly used to transfer $503,000 of the PPP funds into. On Wednesday (May 13th), he was arrested on federal bank fraud charges. It is not yet known when he will return to court for his next appearance.
"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," said Assistant Attorney General of the Justice Department’s Criminal Division, Brian A. Benczkowski. "The department will remain steadfast in our efforts to root out and prosecute frauds against the Paycheck Protection Program."
