DUBLIN, Ga. — A Dublin man pleaded guilty Thursday to a charge of wire fraud amid claims he lied to get a COVID relief loan that he later spent a majority of on a Pokémon card.
According to the U.S. Department of Justice, 31-year-old Vinath Oudomsine’s plea carries a sentence of up to 20 years in prison and substantial fines, as well as up to three years of supervised release.
“The unlawful taking of taxpayer dollars is always disgusting, but in this context, the taking from emergency relief funds intended to help our neighbors and their businesses is outrageous,” said Acting U.S. Attorney David Estes.
Court documents say Oudomsine applied for an Economic Injury Disaster Loan (EIDL) for an entertainment services business in Dublin with 10 employees and a gross revenue of $235,000.
He received $85,000 in his account in August. He used nearly $58,000 of it on a single Pokémon card (unfortunately, the release doesn’t say which one).
Earlier this year, the federal government estimated that the SBA approved at least 3,000 EIDL loans to people who were ineligible -- for example, businesses that don't exist.
That's less than one-tenth of 1% of the $224 billion loan program.
Those federally-backed Small Business Administration loans are aimed at helping businesses survive the COVID-19 pandemic. Business owners could use the money for payroll, production costs, debts, rents, mortgage payments and more.
