LA Driver Charged with Using $2M COVID Relief for Crypto Purchases

2026-03-19 19:56

Bruce Choi, a 34-year-old rideshare driver from Los Angeles, has been charged with wire fraud and money laundering after allegedly using $2 million in pandemic relief funds to buy cryptocurrency. Prosecutors claim Choi submitted fraudulent loan applications under the fictitious company "Premier Republic" to obtain the funds, which he then transferred to Kraken, a cryptocurrency exchange. Authorities have seized nearly 40 BTC and other digital assets during the investigation. If convicted, Choi faces up to 30 years in prison for each wire fraud count and 10 years for each money laundering count.

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