Georgia Man Used COVID Relief Fund To Buy $57,000 Pokemon Card

Man Used COVID-19 Relief Fund To Purchase $57,000 Pokemon Card

A Georgia man who was charged with wire fraud reportedly used his COVID relief funds to purchase a very rare Pokémon card worth $57,000.

Prosecutors claim Vinath Oudomsine of Dublin reportedly submitted an application for the Economic Injury Disaster Loan in July 2020 and received a loan of $85,000 from the Small Business Association.

According to Newsweek, Oudomsine allegedly used a portion of that loan to purchase the trading card, prosecutors said in front of a judge on Tuesday.

A PSA 10 Base Set 1st Edition Charizard just sold at auction with an ending bid of $183,812.00 via @IconicAuctions.

Including the 20% buyer’s premium, the total transaction value exceeds $220k.

As of now, this is the highest known sale of the card. pic.twitter.com/2mwkoopTvL

— Cardflip (@Cardflp) October 10, 2020

Additionally, Oudomsine reportedly lied on his application about his business revenue and employees. Prosecutors noted the man “unjustly enriched himself” after making the large purchase for the novelty item.

Prosecutors did not mention which Pokemon card he purchased but during the pandemic, Pokemon trading cards have increased in value in the resale market.

Some have sold for almost a quarter-million dollars based on their condition and the year it was produced.