Bruce Choi, a 34-year-old resident of Koreatown, Los Angeles, was arrested at San Francisco International Airport on Tuesday and charged with wire fraud and money laundering. Federal prosecutors allege that he used a fictitious company, "Premier Republic," to submit fraudulent economic damage disaster loan applications, obtaining approximately $2 million in COVID-19 business relief loans, which he then transferred to accounts on the cryptocurrency exchange Kraken to purchase cryptocurrencies. During the investigation, prosecutors seized nearly 40 BTC and other cryptocurrencies. If convicted, each count of wire fraud carries a maximum sentence of 30 years in prison, and the money laundering charge carries a maximum sentence of 10 years in prison.