LA Rideshare Driver Charged With Using $2M in COVID Relief Funds to Buy Crypto
Bruce Choi, a rideshare driver from Los Angeles, was arrested at San Francisco International Airport on federal charges of wire fraud and money laundering. Prosecutors allege that Choi fraudulently obtained over $2 million by submitting false applications for COVID-19 business relief loans, claiming to be the owner of a nonexistent company called "Premier Republic." The funds were allegedly transferred to a cryptocurrency exchange account. Authorities have seized nearly 40 Bitcoin and additional digital assets connected to the scheme. If convicted, Choi faces a maximum of 30 years for each wire fraud count and 10 years for money laundering. The arrest is part of continued federal efforts to prosecute pandemic relief fraud, including similar cases where stolen funds were funneled into cryptocurrency investments.
