Web3 Company Owner Known As “The Godfather” Had Police On His Payroll And Extorted Victims

The founder of a Web3 company, Adam Iza, has been charged in a case involving bribery, cryptocurrency fraud, and corrupt law enforcement officials, federal prosecutors said.

The creator of the cryptocurrency trading platform Zort, Adam Iza, amassed a huge amount of wealth that was channeled through multiple shell companies and used to fund a lavish lifestyle.

Adam Iza Reportedly Had Multiple Police Deputies On His Payroll

Iza is reported to have withheld the receipt of tens of millions of dollars without disclosing income taxes. This is according to an FBI affidavit that was filed in a federal court in Los Angeles on September 23. The affidavit was made public yesterday (September 26).

The Zort founder is being charged with bribery after allegedly paying three Los Angeles Sheriff’s Department (LASD) deputies to unlawfully file search warrants and access police data, according to the affidavit.

Iza, also known as Ahmed Faiq and “The Godfather,” reportedly bragged about paying as much as $280,000 a month to the deputies and is accused of using police information to try to coerce one alleged victim, identified only as “E.Z.,” into handing over a laptop used to store crypto.

(Aza Mocking The Arrest Of One Of His Extortion Victims. Source: CourtListener )

Victim Received Intimidating Messages With Pictures Of His Family

(Iza Posing With Police Officers. Source: CourtListener )

E.Z. claimed he received intimidating messages displaying his information in a police database. He alleged that one photo even revealed “the top portion of a LASD business card” along with a message and pictures of E.Z.’s family and car.

Iza hired a private investigator, known as “K.C”. K.C claimed Iza also sent him “photos of sensitive law enforcement data” and a picture of a “GPS search warrant on a phone number believed to belong to Victim E.Z.” This information is included in the affidavit.

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The FBI said it later found a search warrant written by an LASD deputy who was accused of receiving payments from Iza. The warrant added E.Z.’s number, even though it was a “case that had no relationship” to that person.

Adam Iza, through his cryptocurrency company, Zort and other businesses owned by his then-girlfriend, made payments to three LASD deputies. The amounts paid to the deputies would occasionally reach close to $200,000, according to the affidavit.

Iza has been charged with conspiracy against rights and tax-assessment evasions. The complaint alleges he “concealed his receipt of tens of millions of dollars and did not report any income taxes” between 2020 and 2022.

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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.