‘Love & Hip Hop: Atlanta’ Star Released After Arrest Over Coronavirus Relief Fraud
Millions of people who lost their jobs have been scrambling around to figure out when they will get another check to get by during this pandemic. While some people have managed to successfully file for unemployment, get loans, or grants, there are many people who haven’t been so lucky.
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Meanwhile, there are folks out here cashing in on coronavirus relief funds to support their lavish lifestyle. “Love & Hip-Hop” star Mo Fayne is one of those people being accused of doing so. As TMZ reported, Mo, who was engaged to castmate Karile Redd, was recently arrested on federal bank fraud charges.
The news site notes that the feds claim Mo took the money from a Paycheck Protection Program which was meant to help employees and small businesses hit hard by the raging pandemic. He allegedly used the $2 million loan to buy $85,000 worth of jewelry and pay off a bunch of personal debts, including child support, TMZ notes.
Feds claim Mo used more than $85k to buy a Rolex Presidential watch, a diamond bracelet, and a 5.73-carat diamond ring for himself. He also reportedly copped a 2019 Rolls-Royce Wraith and dropped $40,000 on his child support tab. When questioned by cops if he used any of the PPP loan to purchase the luxury car, Mo said, “Kinda, sorta, not really,” according to court docs.
Mo signed and submitted a PPP loan application in the name of Flame Trucking back in April. He stated that the company had 107 employees and an average monthly payroll of about $1.5 million. Agents seized $503,000 of the loan proceeds from 3 bank accounts owned or controlled by Mo.
Fayne was released in Georgia on a $10,000 bond Wednesday.
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