Over the past few years, we have seen numerous reports and evidence showing us that the market for rare Pokémon cards is becoming more volatile and collectibles are becoming – in some cases – a highly valued and speculative investment. Now there is a rather unusual report that a small business owner allegedly robbed a coronavirus relief fund in order to invest in a card.
This was due to an online filing for a federal indictment, which states that an individual in Georgia (USA) applied for small business assistance under the CARES (Coronavirus Assistance, Relief and Economic Security) Act in July 2020. … The man allegedly made “false statements about the number of people employed by his company and the gross income of his company” in order to demand from the fund – they received $ 85,000.
A rather unusual part of the document states that the person “used funds received from the SBA through false and fraudulent presentation to purchase a Pokémon card for $ 57,789.” As we know, some of the rare cards do sell for significant amounts of money in this ball park.
A reminder that times are undeniably strange.