Arkansas Mo, one of the stars of Love & Hip Hop: Atlanta, has been accused by federal prosecutors of spending his Paycheck Protection Program loan from the federal government on jewelry and a luxury car.
According to AJC, the VH1 star was loaned more than $2 million from the federal program. The loan was for businesses who may struggle to make ends meet following the COVID-19 shutdown. Arkansas Mo was fortunate to have been approved for the loan, as many small businesses were denied.
“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,” said Assistant Attorney General Brian A. Benczkowski of the Justice Department’s Criminal Division. “The department will remain steadfast in our efforts to root out and prosecute frauds against the Paycheck Protection Program.”
Other officials were equally as harsh in their assessment of the reality television star’s alleged mishandling of his loan.
“The defendant allegedly took advantage of the emergency lending provisions of the Paycheck Protection Program that were intended to assist employees and small businesses battered by the Coronavirus,” said U.S. Attorney Byung J. “BJay” Pak of the Northern District of Georgia. “We will investigate and charge anyone who inappropriately diverts these critical funds for their own personal gain.”
“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 Special Agent in Charge Chris Hacker of the FBI’s Atlanta Field Office. “The FBI and our federal partners remain vigilant during this Coronavirus pandemic to make sure funds provided by programs like PPP are used as intended.”
Arkansas Mo has been charged with bank fraud.