Love & Hip Hop’s Karlie Redd’s Ex-Husband ‘Arkansas Mo’ Charged w/ COVID-19 Loan Fraud, Accused Of Using $2 Million Small Business Loan To Buy Jewelry & Rolls Royce
Love & Hip Hop’s Karlie Redd’s Ex-Husband ‘Arkansas Mo’ Charged w/ COVID-19 Loan Fraud, Accused Of Using $2 Million Small Business Loan To Buy Jewelry & Rolls Royce
“Love and Hip Hop: Atlanta” veteran Karlie Redd’s ex-husband is in some serious trouble. Karlie Redd was previously married to Arkansas Mo (real name Maurice Fayne). Their whirlwind romance and break up was shown on the reality show.
Arkansas Mo has now been charged with taking more than $2 million in coronavirus bailout money, the Justice Department announced in a press release Wednesday (May 13).
The PPP (Paycheck Protection Program) was intended to assist employees and small businesses affected by the coronavirus pandemic. Arkansas Mo is the owner of a trucking company called Flame Trucking, so he applied for a loan in the amount of $3,725,500 and confirmed that it 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 gave Arkansas Mo a loan for more than $2 million, according to the documents. However, Arkansas Mo never used the money to help out his employees. Within days, the U.S. Attorney’s office said that Mo allegedly used more than $1.5 million of the PPP loan proceeds to purchase $85,000 in jewelry, including a Rolex Presidential watch, a diamond bracelet, and a 5.73 carat diamond ring for himself, to lease a 2019 Rolls Royce Wraith, to make loan payments, and to pay $40,000 for child support.
On May 6, Mo was interviewed by federal agents and told the agents that he used all of the PPP loan proceeds to pay payroll and other business expenses.
On May 11, agents executed a search at Mo’s home in Dacula, Georgia and seized approximately $80,000 in cash, including $9,400 that Mo had in his pockets, and the jewelry he allegedly purchased with the PPP money. Agents also executed seizure warrants for three bank accounts that Mo owned or controlled and seized approximately $503,000 in PPP funds according to prosecutors.
Arkansas Mo’s case is being investigated by the FBI along with with the Atlanta Complex Financial Crimes Task Force. He has officially been charged with bank fraud.
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