A star from VH1’s Love & Hip Hop: Atlanta has been charged with federal bank fraud after allegedly scamming over $2 million from the coronavirus loan program.
Maurice Fayne is said to have spent more than $1.5 million on jewelry and child support, according to the Hollywood Reporter. On April 15, the 37-year-old—who was in nine episodes of Love & Hip Hop: Atlanta Season 8—was granted a loan from the Paycheck Protection Program for a Georgia corporation called Flame Trucking, for payroll and other business expenses. He appeared in court on Wednesday.
After obtaining a $2,045,800 loan, he allegedly purchased a Rolex Presidential watch, a diamond bracelet, and a 5.73 carat diamond ring for himself. He has also been accused of using the federal grant to pay $40,000 in child support.
Fayne initially denied the allegations when interviewed by federal agents on May 6. However, after searching his home, authorities discovered $80,000 in cash, including $9,400 Fayne had on his person, as well as the jewelry he bought with the funds. Agents also seized a 2019 Rolls-Royce Wraith with temporary dealer tags, and $503,000 from the grant, which had been divided between three of Fayne’s bank accounts.
“The defendant allegedly stole money meant to assist hard-hit employees and businesses during these difficult times, and instead greedily used the money to bankroll his lavish purchases of jewelry and other personal items,” Assistant Attorney General Brian A. Benczkowski said in a statement. “The department will remain steadfast in our efforts to root out and prosecute frauds against the Paycheck Protection Program.”
The Paycheck Protection Program was passed during the COVID-19 pandemic as a way to help small businesses and employees avoid devastating fallout from social distancing and stay-at-home orders. The Trump administration recently came under fire for using the program to grant loans to big businesses like Shake Shack, Ruth's Chris, and the Los Angeles Lakers.
