According to authorities (via THR), Fayne allegedly spent most of the loan on himself.
The rapper reportedly acquired a $2 million Paycheck Protection Program (PPP) loan under the Georgia business called Flame Trucking.
The U.S. Department of Justice has officially charged Maurice Fayne with federal bank fraud.
$1.5 million of the federal funds were reportedly spent on several pieces of jewelry, which included a 5.73 carat diamond ring and a Rolex Presidential watch for himself.