I don’t know whether to laugh or cry. Normally, I’d pass on this story but I’m covering everything coronavirus related (BlackCovid19.com) and this story just can’t be ignored – well, I guess it could, but the Washington Post started it.
The government has been awarding loans from the Paycheck Protection Program (PPP) that were intended to assist employees and small businesses battered by the Coronavirus. The biggest gripe has been the large companies getting approved and the small ones being left out.
By most measures, Maurice “Mo” Fayne, a trucking company owner who appears regularly on the reality show “Love & Hip Hop: Atlanta, owns a small business but was fortunate to receive a $2 million loan. Good for him.
The government already has to determine who is playing by the rules because if companies do the right thing, they will not have to repay the loan – it effectively becomes a government grant. But, if a certain amount of employees are found to not be paid or a certain amount of the loan not used in the business, the loan will have to be paid back. The feds also expect to do audits, particularly for loans over $2 million.
They didn’t start issuing the first check until about 6-weeks ago, and our guy, Arkansas Mo, done messed up the money and got the feds all up his ass.
Prosecutors alleged he used more than $1.5 million on unauthorized purchases including the car, jewelry and child support.
If you want to read the rest of the reason our guy is one of the first arrested for misusing coronavirus stimulus money, here’s the Washington Post link.
I guess they had to make an example out of someone. They definitely found the right one.