Say it ain’t Mo! Trucking fraudsters take advantage of PPP rollout

While the emergency relief program was designed to help struggling small businesses stay afloat during the global pandemic more than a year ago, federal investigators claim fraudsters — including trucking-related businesses — took advantage of the U.S. Small Business Administration’s chaotic launch to vie for billions in government-backed forgivable loans.

Now, federal prosecutors are attempting to claw back up to $70 billion in fraudulent and ineligible pandemic relief loans obtained through...

https://www.freightwaves.com/news/say-it-aint-mo-trucking-fraudsters-take-advantage-of-ppp-rollout

Trucking company owner indicted in PPP loan fraud, Ponzi scheme

Federal investigators have charged a reality TV star and owner of a trucking company with bank fraud and money laundering, alleging he misused funds meant to help small businesses stay afloat during the COVID-19 pandemic.

Prosecutors allege that Maurice Fayne, aka “Arkansas Mo,” 37, of Dacula, Georgia, who appeared on VH1’s reality TV show “Love & Hip Hop: Atlanta,” applied for and received a $3.7 million loan through the Paycheck Protection Program (PPP) in mid-April for his trucking company,...

https://s29755.pcdn.co/news/trucking-company-owner-indicted-in-ppp-loan-fraud,-ponzi-scheme