Arkansas Mo, Karlie Redd's Husband - Charged w/ $2mil In Covid Loan Fraud
- Published on: 5/14/2020
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Maurice Fayne, who stars in VH1's "Love & Hip Hop: Atlanta," has been arrested and charged with federal bank fraud after misusing funds from a Paycheck Protection Program ("PPP") loan.
Fayne, also known as "Arkansas Mo," runs a corporation called Flame Trucking, and he submitted a PPP loan application for the company on April 15, stating that the business had 107 employees and an average monthly payroll of $1,490,200, according to an affidavit for the criminal complaint.
Flame Trucking asked for a loan of $3,725,500 and certified that the 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," the affidavit alleges.
United Community Bank ultimately funded the loan for $2,045,800 in late April, according to the affidavit.
Fayne then used more that $1.5 million of the funds to buy $85,000 in jewelry, including a Rolex watch, a diamond bracelet, and a 5.73 carat diamond ring for himself, the US Attorney's Office for the Northern District of Georgia said in a release.
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