Georgia man accused of using SBA pandemic relief loan to buy expensive Pokemon card

Georgia man accused of using SBA pandemic relief loan to buy expensive Pokemon card
·1 min read

A man from Georgia was charged Tuesday with wire fraud after receiving a pandemic relief loan from the Small Business Administration before purchasing a Pokemon card worth tens of thousands of dollars.

Vinath Oudomsine filed for an Economic Injury Disaster Loan last year claiming he had a struggling business employing 10 people and making roughly a quarter-million dollars a year, after which he was awarded $85,000, court documents show.

But federal prosecutors argue his application was based on false information, particularly in regards to the number of employees and "gross revenue," and he then used the money to purchase a Pokemon card for $57,789 sometime around early January.

The type of Pokemon card was not revealed, but some of these trading cards have gone for $1 million in recent years, and a box of first-edition Pokemon cards sold for $400,000.

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There have been other instances in which business owners are being prosecuted for misusing pandemic relief funds meant to help businesses cover rent and employee paychecks.

One man pleaded guilty to using his funds to see strippers. Another pleaded guilty to receiving and using fund money to buy a Lamborghini.

Still, SBA officials told the Washington Post the loan program “delivered on the intent of the Cares Act,” the $2 trillion emergency aid package that Congress passed last year and former President Donald Trump signed.

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Oudomsine has not yet entered a plea, according to court documents. If found guilty, he could face up to 20 years in federal prison and fines up to $250,000.

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Tags: News, Justice Department, Pokemon, Georgia, Federal, Small Business Administration

Original Author: Misty Severi

Original Location: Georgia man accused of using SBA pandemic relief loan to buy expensive Pokemon card

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