'Love & Hip Hop: Atlanta' star Mo Fayne is accused of using a PPP loan to bankroll a lavish lifestyle.
allegedly tried to take advantage of the coronavirus pandemic ... the feds say he took a small business loan for COVID-19 relief and used it to bankroll a lavish lifestyle.
The feds claim Mo took the money -- which was meant to help employees and small businesses hit hard by the raging pandemic -- and used the dough to buy $85,000 worth of jewelry and pay off a bunch of personal debts, including child support.Within days of getting a PPP loan for over $2 million, the feds say Mo used more than $85k to buy a Rolex Presidential watch, a diamond bracelet, and a 5.73-carat diamond ring for himself.
According to new legal docs obtained by TMZ ... when federal agents asked Mo whether he used any of the PPP loan to purchase the luxury car, Fayne said,"Kinda, sorta, not really." Agents say they also seized $503,000 of the loan proceeds from 3 bank accounts owned or controlled by Mo.
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