Quick history lesson, in the original game the dictator from Thailand was called Vega, the Spanish cage fighter was called Balrog and the afro-American world heavyweight boxing champion from Las Vegas Nevada was called Mike Bison. When the game was shipped to the US/EU Capcom got scared that Mike Tyson (who they were parodying in case you somehow missed it) might sue them and so swapped some of the names around (though the boxer still looked exactly like Tyson).
Hence Vega can apply to either the Thai dictator or the Spanish cagefighter, and hence a guy cosplaying as Vega is a counterfeit Vega (in retrospect it probably wasn't that funny even if it didn't need explaining lol).