Dublin resident Vinath Oudomsine has been sentenced to three years in federal court for using COVID-19 relief funds to buy a rare Pokemon trading card. According to court records, Oudomsine spent $57,789 of the $85,000 he received from the Small Business Administration (SBA) on the card. His sentence includes prison time, fines, and restitution of the full loan amount.
Bleecker Trading is committed to bringing you important information from the trading card industry. As a company that deals in authentic
Pokemon trading cards, Bleecker Trading believes in honest, transparent transactions and condemns any illegal or fraudulent card purchases.
Covid-19 Relief Fraud Hits the Headlines
The government issued several relief programs for individuals and businesses struggling during the COVID-19 lockdowns. Chief among these were the Paycheck Protection Program (PPP) and the Economic Injury Disaster Loan (EIDL), which were aimed at helping businesses stay open and pay their employees. While most of these funds went to deserving businesses, there have been a few high-profile cases of fraud.
Recently, a federal jury in North Carolina convicted two men for fraudulently receiving more than $1 million in PPP loans. Another man in Massachusetts was arrested for using more than $400,000 in pandemic relief funds to pay his mortgage and write checks to personal friends.
Rare Pokemon Cards
In Oudomsine’s case, the government found that he applied for an EIDL in July 2020. In the application, he said he owned a Dublin-based entertainment company that employed 10 people. His application claimed his business had $235,000 in gross revenue. The SBA, which administered the COVID-19 loans, issued a loan of $85,000 to Oudomsine in August 2020.
Once he received the loan, inspectors found he used $57,789 to buy a rare Pokemon card that featured the Charizard character.
Stiff Sentence
An investigation was conducted by the FBI, SBA, and U.S. Attorney’s Office. Oudomsine was arrested and tried in federal court. He pled guilty to one charge of wire fraud.
A judge in the Southern District Court sentenced him to:
– 36 months in federal prison
– A $10,000 fine
– Restitution of $85,000
– Forfeiture of the Charizard card
About Bleecker Trading
Bleecker Trading is a curator of collectible assets based in New York City that believes in honest representations and fair pricing. As the premier choice for those who want to buy or sell trading cards, Type 1 sports photos, and collectibles, Bleecker Trading’s online store and flagship New York location host a vast selection of rare and limited edition memorabilia. Their experienced team work with buyers, sellers, and collectors from around the world, providing item valuation, card grading, and collection buyouts.
Contact Information
Bleecker Trading is located at 94 Christopher Street South, New York, NY. To make an appointment or to request information visit https://bleeckertrading.com or call (516) 530-7125.
Media Contact
Company Name: Bleecker Trading
Contact Person: Mark Zablow
Email: Send Email
Address:94 Christopher Street
City: New York
State: NY, 10014
Country: United States
Website: https://bleeckertrading.com
