Arkansas Mo has been arrested and charged with fraud after he misused over $2 million from a Coronavirus relief loan to fund his lavish lifestyle.
Mo, real name Maurice Fayne, is best known for his toxic relationship with “Love & Hip Hop: Atlanta” star Karlie Redd.
Related: Karlie Redd Undergoes IVF Treatments & Her Fiancé Arkansas Mo Says He’s ‘Single’
More recently, he’s been exposed as a cheater and a con man, who allegedly stole money from Alexis Skyy‘s family to fund his “trucking business.”
According to 11 Alive, Arkansas Mo submitted a Paycheck Protection Program application claiming he needed funds to pay 107 employees of his Flame Trucking business. On his application, he said he had an average monthly payroll of $1,490,200.
He applied for $3,725,500 in funding and confirmed the loan 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 bank approved Mo for a loan of over $2 million.
U.S. Attorney’s office said that Arkansas Mo allegedly used more than $1.5 million of the Paycheck Protection Program loan to purchase $85,000 in jewelry (a Rolex Presidential watch, a diamond bracelet, and a 5.73 carat diamond ring). He also leased a 2019 Rolls Royce Wraith, made loan payments, and used the PPP loan to pay $40,000 in child support.
On May 6, the feds rolled up on Mo to question him about the money and he claimed he used all of the PPP loan proceeds to pay payroll and other business expenses.
Five days later, agents executed a search at Arkansas Mo’s home in Dacula and seized approximately $80,000 in cash (he had $9,400 in his pockets). They also seized the jewelry he had purchased with the loan.
Agents also executed seizure warrants for three bank accounts that Mo owned or controlled and seized approximately $503,000 in PPP funds, prosecutors said.
The FBI, Atlanta Complex Financial Crimes Task Force, Gwinnett County Sheriff’s Office and the Small Business Administration Office of the Inspector General are all working together on this case.
Source: 11 Alive