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Tags: georgia | covid | relief | pokemon | card | loan | oudomsine

Georgia Man Bought $57K Pokemon Card With COVID Relief Money

Georgia Man Bought $57K Pokemon Card With COVID Relief Money
Cards are sorted for a beginners' clinic during the first day of the 2019 Pokemon World Championships at the Washington Convention Center Aug. 16, 2019, in Washington, D.C. (Brendan Smialowski / AFP via Getty)

By    |   Monday, 25 October 2021 10:51 AM

A Georgia man has been charged with fraud after lying on a COVID-19 business-relief-loan application and spending most of the money on a single Pokemon card worth $57,789.

Vinath Oudomsine, of Dublin, Georgia, received an "economic injury disaster loan" ("EIDL") meant to cover business expenses such as payroll, production costs, or rent. Instead, he blew nearly all of it on a trading card after lying on his application, according to documents.

The New York Post reported Sunday night that prosecutors accused Oudomsine of falsely applying for the EIDL in July 2020. He indicated that he had operated a business since 2018 with 10 employees and yearly revenues of $235,000.

Prosecutors did not indicate what kind of business Oudomsine claimed to own.

Oudomsine received $85,000 from the Small Business Administration in August of 2020, the Post reported.

Prosecutors said that Oudomsine used most of the loan money to purchase the unnamed Pokemon card.

The Post said Oudomsine faces up to 20 years in federal prison and up to $250,000 in fines.

The Coronavirus Aid, Relief, and Economic Security (C.A.R.E.S.) Act, was passed by Congress in March 2020. The measure greatly expanded eligibility for businesses to receive small business loans.

Some Pokemon cards have traded as collectors' pieces for large amounts of money.

The 2002 Pokemon World Championships No. 1 Trainer card was sold in April for $31,200, Dice Breaker reported, and a 1999 Pokemon Japanese Promo Tropical Mega Battle Tropical Wind sold for $65,100 in October 2020.

Extremely rare cards such as the Pikachu Illustrator have sold for as much as $195,000, The Telegraph in Macon, Ga., reported.

Extremely rare cards such as the Pikachu Illustrator have sold for as much as $195,000, The Telegraph said.

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A Georgia man has been charged with fraud after lying on a COVID-19 business relief loan application and spending most of the money on a single Pokemon card worth $57,789.
georgia, covid, relief, pokemon, card, loan, oudomsine
286
2021-51-25
Monday, 25 October 2021 10:51 AM
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