Rideshare Driver Accused of Using Pandemic Loan Scheme for Cryptocurrency Investments

A Los Angeles-based rideshare driver has been accused of using a $2 million pandemic loan scheme to fund his cryptocurrency investments.

Bruce Choi, 34, is facing federal charges after allegedly deceiving lenders into issuing government funds for non-existent companies from 2020 to 2024. According to the indictment, Choi posed as the head of two fictional businesses and submitted forged documents to secure the loans.

The money was allegedly laundered through a Kraken cryptocurrency exchange account, with approximately 40 Bitcoins seized by federal agents as part of the recovery effort.