A man from Georgia was convicted for getting a loan to buy a special Pokemon card. He used more than $57,000 of the money to buy it.
A person named Vinath Oudomsine from Dublin, Georgia has pleaded guilty to wire fraud and could be sentenced to 20 years in jail.
Prosecutors said that Oudomsine submitted false information to the U.S. Small Business Administration last year when he applied for a COVID-19 relief loan for an “entertainment services” business he claimed to own. They said that he lied about how many people he employed as well as his business’ annual revenues.
The person who borrowed money from the loan program got $85,000. He used it to buy a Pokemon trading card for $57,789.
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Vinath Oudomsine from Dublin, Georgia has been accused of doing a lot more than trading Pokemon cards with his COVID-19 relief loan. Vinath was charged with wire fraud and could face up to 20 years in jail for lying to the Small Business Association. Prosecutors say that Vinath claimed he owned an “entertainment services” business but prosecutors allege that he didn’t employ anyone and had no revenue.
The person who borrowed the money from the loan program was able to get $85,000 in loans and used it to buy a Pokemon card for $57,789.
The man told authorities that he didn’t know about the Pokemon card’s cost when he bought it and said, “I just thought I could buy this for $500 or whatever.” Oudomsine was using the money he got from the loan to buy a business. The total amount of his fraudulent statements was $57,789.