Georgia man spent COVID loan on $ 57,000 Pokémon card: Federal government
A man in Georgia used more than two-thirds of his COVID-19 relief loan to pay for a PokÃ©mon card, according to federal prosecutors.
Vinath Oudomsine was indicted on Tuesday by criminal information of a wire fraud count after the government said he lied about the number of employees he had and the income generated by his business in a loan application economic disaster, or EIDL, during the pandemic.
The charge carries a maximum sentence of up to 20 years in federal prison and a $ 250,000 fine, although the actual sentence is usually much lower.
Oudomsine, who is from Dublin, Georgia, could not be reached for comment on Friday. Defense lawyers representing him declined to comment in a statement to McClatchy News.
Dublin is approximately 54 miles south-east of Macon.
Congress passed the Coronavirus Aid, Relief and Economic Security Act, also known as the CARES Act, in March 2020, which expanded eligibility and waived certain requirements for companies applying. the economic disaster loan program.
The funds were intended to be used as working capital or for normal operating expenses, such as rent and utilities. But unlike Paycheck Protection Plan loans, EIDLs are not eligible for rebate.
According to charges filed in the Southern District of Georgia, Oudomsine filed for EIDL in July 2020 on behalf of a company that he said had been in business since 2018. The request stated that his company had 10 employees and one gross sales of $ 235,000. 12 months.
As a result, prosecutors said, the Small Business Administration granted Oudomsine a loan of $ 85,000 on August 4.
But five months later, Udomsin used a large chunk of the funds to purchase a PokÃ©mon card for $ 57,789, prosecutors said. It was not clear in court records which PokÃ©mon card Oudomsine is accused of purchasing, but some rare and valuable PokÃ©mon cards can sell for thousands of dollars.
The 2002 Pokemon World Championships No.1 Trainer Card sold in April for $ 31,200, Dice Breaker reported, and a tropical mega-tropical battle wind from the 1999 Japanese Pokemon promo sold for 65,100. $ in October 2020.
Extremely rare cards like the Pikachu Illustrator sold for up to $ 195,000, according to the media’s website.