Georgia Man Spends $58k on Pokemon Card Using COVID Loan

The federal government is charging a Georgia man for using more than two-thirds of his COVID relief loan to purchase a Pokemon card.

In March 2020, Congress passed the Coronavirus Aid, Relief and Economic Security Act (CARES) to lessen the requirements for businesses to apply to the Economic Injury Disaster Loan program. After approval of an EIDL loan, funds are used as working capital, pay rent or utilities, or cover general operating costs. Not to buy Pokemon cards.

Vinath Oudomsine is facing potentially 20 years in federal prison and an additional $250,000 in fines for his personal splurge. Aside from grossly misusing a federal loan, lies about how long his business has been open, littered his application. Additionally, his lies include the number of employees and their revenue prior to the pandemic.

Oudomsine submitted his application in July of 2020. Here he states that his company has been operating since 2018, employs 10 people, and generates $235,000 per year. He saw an opportunity to shoot his shot and stole money that other businesses need.

Due to his fabricated application, Oudomsine received approval in August 2020. He was awarded an $85,000 loan, of which he spent $57,789 on a single pokemon card.

It is unknown through court documents which card he purchased with his fraudulent funds, but some rare Pokemon cards can sell for thousands, sometimes hundreds of thousands of dollars.

What possess someone to do something so blatantly stupid? Did he really think the government wasn’t paying attention to the people who received loans? An EIDL loan isn’t forgivable like Paycheck Protection Loans. Oudomsine was going to have to pay back the money anyway, so why pull a stunt like that?

What Pokemon card do you think he bought with his COVID loan?

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