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A man used his COVID-19 business loan to buy a Pokemon card — for $57,000

If convicted, he could face up to 20 years in prison and $250,000 in fines

SHARE A man used his COVID-19 business loan to buy a Pokemon card — for $57,000
A selection of Pokemon trading cards are displayed in Scituate, Massachusetts.

A selection of Pokemon trading cards are displayed in Scituate, Massachusetts. A man recently used his COVID-19 business loan to buy a Pokemon card for $57,000.

Associated Press

A man reportedly used a COVID-19 business loan to purchase an expensive Pokemon card.

Court records reveal that Vinath Oudomsine of Georgia made fraudulent claims about his business and received $85,000 in August 2020, using that money to buy a Pokemon card for $57,789, NBC News reported.

Prosecutors say the federal aid was based on false information, and Oudomsine has been charged with one count of wire fraud, according to The Washington Post.

The recent charge is part of a federal crackdown on the alleged abuse of relief programs for businesses during the pandemic, according to The Washington Post, which reported that the Small Business Administration has overpaid $4.5 billion in grants to self-employed individuals.

In July 2020, Oudomsine sought an Economic Injury Disaster Loan for a business he said had 10 employees and earned a revenue of $235,000 over the course of a year, The Washington Post reported. The SBA deposited $85,000 into an account in his name the following month.

Five months later, Oudomsine used roughly two-thirds of that loan to purchase a Pokemon card, which was not described in court documents, USA Today reported. If convicted, he could face up to 20 years in prison and $250,000 in fines.

Earlier this year, a box of unopened first edition Pokemon cards sold at an auction for $400,000, Polygon reported.