Love & Hip Hop: Atlanta star Arkansas Mo has pleaded guilty to 6 counts of federal bank fraud for misusing funds from the PPP emergency loans.
While many small businesses were unable to receive a PPP loan when the pandemic hit, Mo applied for and was granted more than $2 million in Paycheck Protection Program funds.
He said the money was to "retain workers and maintain payroll or make mortgage interest payments, lease payments, and utility payments, as specified under the Paycheck Protection Program Rule."
MASIKA KALYSHA FAKES KIDNAPPING
When he was first questioned by the feds about using the money to fund his lavish lifestyle... he denied it.
"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."
Mo spent some of the funds on jewelry and even to cover his child support.