Crypto Kingpin Turned Criminal Mastermind
The self-described “Godfather” of crypto, Adam Iza, ran the trading platform Zort from his mansion in Bel Air. However, he was secretly operating a criminal organization in which he hired individuals to serve as his personal enforcers. He was making them pay a lot of money to do this. Eventually, he paid them almost $280,000 a month. Iza has a plea deal wherein he would plead guilty to three charges, namely wire fraud, conspiracy against rights, and tax evasion.
An individual with links to a jailed Kingston Town Hall bigwig ordered police to intimidate and rob his enemies—including the police themselves. In one incident, a victim was held at gunpoint by deputies in Iza’s house to transfer $25,000 from the bank. Iza was involved in a different incident where he allegedly threatened someone at gunpoint to demand $127,000.
Deputies Betray Their Badge
Deputies David Rodriguez, Christopher Cadman, and Eric Saavedra have each confessed to different parts of the scheme. Cadman and a fellow officer allegedly pointed a gun at a victim and had him arrested at a fake traffic stop. He didn’t report over $40k that he earned through the payments made by Iza, which could lead him to 13 years of jail time.
Rodriguez confessed to lying to a judge in 2022 to acquire a bogus search warrant. Using that search warrant data, he located the victim’s phone and passed along the information to Saavedra, another deputy under Iza. The information was then used to blackmail and threaten the victim.
Saavedra operated a private security company that employed officers and used police databases to manufacture false warrants and monitor the whereabouts of victims under fictitious circumstances. He was alleged to have assisted in the planning of a home invasion with Iza, whose purpose was to steal a laptop that allegedly contained $100 million of crypto. The robbery did not take place because the homeowner fired a gunshot.
Luxury Lifestyle Funded by Fraud
The corruption extended beyond extortion. Iza’s girlfriend, Iris Ramaya Au, helped launder the illicit proceeds of over $2.6 million in illegal income by using shell companies. Iza also deceived Meta Platforms Inc. by gaining access to their business manager accounts and using their credits to drain over $37 million.
Iza’s legal team described him as a tech genius with unwholesome relationships who attracted bloodsucking characters from Southern California due to his success in cryptocurrencies.
Criminal Enterprise Uncovered
According to the Justice Department and IRS, Sheasby was running a crime empire that cleverly schemed the police, which, too, was for a pocketful of money. Officials stress how serious the betrayal by sworn officers is.
“Mr. Iza’s relationship with Mr. Saavedra was little more than a thuggish partnership between a thief and a crooked cop,” said IRS Special Agent Tyler Hatcher. “We must NEVER put trust in law enforcement for sale.”
Everyone involved is awaiting sentencing, with Iza facing the maximum. Upholding public trust means protecting the integrity of the legal system and rooting out public corruption.
