In Response
- A Los Angeles Cryptocurrency “entrepreneur” known as “The Godfather” allegedly posed as the FBI to steal cryptocurrency at gunpoint in 2018.
- Adam Iza, the alleged criminal, was arrested earlier this week and is charged with conspiracy and tax evasion, and is due to appear before a California district judge on October 8.
- Iza ran a cryptocurrency trading platform called Zort and allegedly paid Los Angeles Sheriff’s Police officers to commit illicit acts, including harassing his enemies and carrying out arrests and searches.
A Los Angeles cryptocurrency entrepreneur, who called himself “The Godfather,” allegedly posed as the Federal Bureau of Investigation (FBI) to steal cryptocurrencies at gunpoint.
During the 2018 robbery, Adam Iza allegedly stole a laptop containing the cryptocurrency, held a person known as “Victim TW” and his girlfriend at gunpoint, and demanded passwords to the laptop to access the cryptocurrency.
Iza was arrested earlier this week and is charged with conspiracy and tax evasion. He is due to appear before a California district judge on October 8, according to court documents.
The alleged criminal used to run a cryptocurrency trading platform known as Zort, which promoted itself as “an automated cryptocurrency trading platform powered by artificial intelligence.”
The platform had an app for iOS and Android and had been covered by several popular cryptocurrency outlets. Its website and social channels remain operational at the time of writing.
According to the FBI complaint, Iza allegedly paid tens of thousands of dollars to the personal accounts of Los Angeles Sheriff’s Police (LASPD) officers “in exchange for them committing unlawful acts in their capacity as law enforcement officers.” A payment to an LAPD officer, sent from Zort’s business account, totaled $154,933.
These acts could have included harassing their enemies and carrying out arrests and searches.
According to the filing, Iza is accused of having paid police officers to harass his enemies and conduct searches. On several occasions, he is accused of sending intimidating text messages and asking for a personal enemy to be arrested on drug charges.
In September 2021, a person identified as “Victim RC” was detained by an LAPD Deputy and arrested due to possession of narcotics, and his home was subsequently raided. The victim states that he was unaware of the existence of the substances.
“Victim RC,” who said he worked with Iza as an event planner, also received a photo of his CLETS report, a type of background check, with an LAPD ID card in the photo frame.
Zort’s founder has also been accused of hiding thousands of dollars in taxes from authorities by using a network of shell companies and shills.
According to the FBI complaint, he is estimated to have evaded approximately $1,715,196 in federal taxes and failed to file taxes between 2020 and 2022.
He allegedly used the tax evasion proceeds to purchase “numerous luxury vehicles, rent payments on a Bel Air mansion, cosmetic surgery to lengthen his legs, and numerous other luxury expenses.”
The LAPD has not yet issued an official comment on the news. However, the LA Times reported that several Los Angeles County deputies were relieved of duty earlier this week as a result of a federal investigation.
Edited by Stacy Elliott.
Daily Debrief Newsletter
Start every day with the top news stories right now, plus original features, a podcast, videos and more.
For the Latest Crypto News, Follow ©KeynoteUSA on Twitter Or Google News.
Disclaimer: Please note that the information provided on this page is for News purposes only and should not be considered investment or trading advice. ©Crypto.keynoteusa.com strongly recommends that you conduct independent research and/or consult with a qualified professional before making any investment decisions.
