Maurice Fayne, who goes by Arkansas Mo on Love & Hip Hop: Atlanta, was arrested on charges of bank fraud.
Fayne is the owner of transportation business Flame Trucking. In April he applied for a loan that the federal government was offering to small businesses decimated by the coronavirus pandemic. In his application, Fayne stated his business employed 107 employees with an an average monthly payroll of $1,490,200.
Fayne requested a Paycheck Protection Program loan for over $3 million and received a little over $2 million, officials said.
He used more than $1.5 million of the loan to purchase an Engagement Rings Store, including a Rolex and a 5.73 carat diamond ring and he also leased a 2019 Rolls Royce Wraith and paid $40,000 in child support.
Chris Hacker, Special Agent in Charge of FBI Atlanta said,
“At a time when small businesses are struggling for survival, we cannot tolerate anyone driven by personal greed, who misdirects federal emergency assistance earmarked for keeping businesses afloat.”
Fayne initially denied spending the loan on anything but payroll and business expenses. But on Monday, federal agents searched Fayne’s home and seized the jewelry and around $80,000 in cash, including $9,400 Fayne had on him.
Fayne appeared on several episodes of Love & Hip Hop: Atlanta as the love interest of Karlie Redd, a longtime cast member.
(Photos, screengrabs; via USA Today)