ADOn May 13 Fayne was arrested and then charged with bank fraud. Prosecutors alleged he used more than $1.5 million on unauthorized purchases including the car, jewelry and child support. “There has been considerable confusion among small business owners about PPP guidelines — particularly around the question of whether and how business owners are permitted to pay themselves a salary or owner’s draw. ADFayne, known as “Arkansas Mo” on the show, is one of the only people to be charged with a crime for misuse of funds from the SBA program. The Washington Post and several other news organizations have filed a lawsuit against the SBA for access to these records.

Source: Washington Post May 16, 2020 15:22 UTC