The US Government Now Owns A Pokemon Card Worth $57,000
On March 7, Vinit Udomsin pleaded guilty to wire fraud.
The Georgia man was convicted of wire fraud and sentenced to three years in federal prison after fraudulently applying for a COVID-19 relief loan and then using a significant portion of that money to purchase a $58,000 Pokemon card. In addition to jail time, Udomsin will have to pay $85,000 in restitution, as well as a $10,000 fine. And will be released under supervision within three years of serving his prison term. The government confiscated the valuable Charizard card as part of the prosecution.
Oudomsine originally applied for a small business relief loan around July 2020
claiming to operate an entertainment services business with ten employees and $235,000 in turnover over the previous 12 months. In August 2020, he was given an $85,000 loan and later spent $57,000 on a Charizard trading card.
Charizard cards dating back to the earliest days of Pokémon TCGs are known to be particularly valuable. In 2020, rapper Logic spent over $220,000 on a first-release Charizard card. An appraiser who participated in Logan Paul’s Pokemon card unboxing thread said some Charizard holographic cards could be auctioned off for $750,000. “The government is issuing COVID-19 disaster relief loans to help businesses struggling to survive during the pandemic. Rather than being used for trivial collectibles,” said Atlanta-based FBI agent Philip Wislar.
GameSpot may earn commissions from retail offers