28 Oct Fayne, 37, is the sole owner of transportation

Maurice Fayne, who goes by Arkansas Mo on the VH1 show “Love Hip Hop: Atlanta,” was arrested Monday on a charge of bank fraud, the Department of Justice said in a news release.Fayne, 37, is the sole owner of transportation business Flame Trucking and in April he applied for a loan that the federal government was offering to small businesses decimated by the coronavirus pandemic, officials said. In his application, Fayne stated his business employed 107 employees with an an average monthly payroll of $1,490,200, the release said.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 jewelry, including a Rolex Presidential watch and a 5.73 carat diamond ring, the release said. Fayne also leased a 2019 Rolls Royce Wraith and paid $40,000 in child support.”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,” said Chris Hacker, Special Agent in Charge of FBI Atlanta.When he met with investigators last week, Fayne denied spending the loan on anything besides payroll and business expenses.

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