Chron.com – Houston:
- Eighty-five thousand dollars in jewelry.
- A 2019 Rolls-Royce Wraith luxury coupe.
- Forty-thousand dollars in child support payments.
Maurice “Mo” Fayne, a trucking company owner who appears regularly on the reality show “Love & Hip Hop: Atlanta,” has been charged with using more than $1.5 million in Small Business Administration stimulus funds to enrich himself rather than for paying workers and small business expenses as the program requires.
According to the U.S. attorney’s office in the Northern District of Georgia, Fayne is the sole owner of a Georgia corporation called Flame Trucking that received a $2 million bank loan through the SBA’s relief package for small businesses, the Paycheck Protection Program.
On May 13 Fayne was arrested and then charged with bank fraud. Prosecutors alleged he used more than $1.5 million on unauthorized purchases including the car, jewelry and child support.
“We will provide the appropriate response in the proper forum once all the information has been provided to us,” said Miller in the statement. “There has been considerable confusion among small business owners about PPP guidelines – particularly around the question of whether and how business owners are permitted to pay themselves a salary or owner’s draw. This ambiguity and confusion for business owners needs to be addressed immediately as the PPP program is still in its infancy.”
Read more at Chron.com – Houston