The founder of a crypto trading platform allegedly relied on corrupt Los Angeles Sheriff’s Department (LASD) deputies to facilitate extortion schemes and other crimes.
Recent court documents indicate that the Federal Bureau of Investigation (FBI) has been looking into Adam Iza, the founder of the crypto trading platform Zort and known as “The Godfather,” over allegedly extorting money and property from victims in LA and elsewhere.
FBI Special Agent Barbara Johnson alleges in a criminal complaint that Iza obtained millions of dollars through fraudulent means, didn’t report his wealth to the Internal Revenue Service (IRS) and paid hundreds of thousands of dollars to three LASD deputies to serve as muscle for his criminal operations.
Explains Johnson,
“The FBI has been investigating Iza and Los Angeles Sheriff’s Department deputies, known and unknown, for (1) extorting money and property from victims in Los Angeles and elsewhere; (2) the payments by Iza to LASD deputies in return for their commission of unlawful acts in their capacity as a law enforcement officers; (3) unlawful searches and arrests by LASD deputies in an effort to intimidate and silence victims; and (4) the evasion of tax assessments related to Iza’s receipt of tens of millions of dollars obtained through fraudulent means and the evasion of tax assessments by LASD deputies, including an LASD deputy referred to here as ‘LASD Deputy 1.’
As detailed in this affidavit, Iza accumulated significant wealth that he and his co-conspirators funneled through shell companies. Iza spent the funds on personal expenses, including numerous luxury vehicles, rent payments for a Bel Air mansion, cosmetic surgery to extend the length of his legs, and numerous other luxury expenditures. During the years 2020 through 2022, Iza concealed his receipt of tens of millions of dollars and did not report any income taxes.”
Iza pleaded not guilty earlier this month, per a report from the Los Angeles Times.
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