A man has been charged with fraud by the Federal Government of Georgia (United States). The latter spent most of his Covid-19 business relief loan to buy a single Pokémon card worth $ 57,789, or 49,837 euros.
The case raised by the New York Post implicates Vinath Oudomsine. The latter was supposed to use his Economic Disaster Loan (EIDL) to cover his business expenses such as payroll, production costs, debts or rent for his business. But he preferred to spend it all on a Pokémon trading card worth $ 57,789, or $ 49,837.
Prosecutors said that in July 2020, Oudomsine falsely requested EIDL, stating that he had operated a business that had been in existence since 2018 with ten employees on his payroll and annual income of $ 235,000 (202,702 euros ). Prosecutors did not say what kind of business he claimed to own.
He faces up to 20 years in prison
Oudomsine faces up to 20 years in prison and up to $ 250,000 in fines (215,656 euros).
The United States Congress passed the Coronavirus Aid, Relief, and Economic Security Act (CARES) in March 2020. This significantly expanded the eligibility of businesses to receive small business loans.
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