Crypto ‘Godfather’ Adam Iza and LA Deputy Saavedra plead guilty to conspiracy, civil rights violations, fraud, and tax evasion charges.
A cryptocurrency businessman and a Los Angeles County Sheriff’s Department (LASD) deputy have pleaded guilty to federal crimes, including conspiracy, civil rights violations, and tax evasion. The U.S. Department of Justice announced the plea agreements on January 17, revealing that Adam Iza, 24, who referred to himself as the “crypto godfather,” orchestrated a criminal scheme involving extortion, intimidation, and fraud.
Iza, the founder of the Zort crypto trading platform, has been in federal custody since September 2024. He is facing multiple charges, including conspiracy against rights, wire fraud, and tax evasion. In addition to Iza, Eric Chase Saavedra, 41, a deputy with the LASD and former federal task force officer, is also charged with conspiracy against rights and subscribing to a false tax return.
The criminal activities began in 2021 and continued until 2024. It involved Iza hiring off-duty deputies, including Saavedra, to carry out extortion, intimidation, and other abuses of police power. Saavedra used his position to illegally access sensitive law enforcement databases, obtaining personal identifiable information (PII) for Iza. The information was then used to target and harass individuals with whom Iza had personal or business disputes.
Iza, Saavedra Guilty of Violating Civil Rights and Stealing Crypto
Iza and Saavedra’s actions included obtaining illegal search warrants to track victims’ locations and intimidate them. In one case, Iza believed a victim had valuable cryptocurrency, and Saavedra obtained a warrant to track the victim’s GPS location. The attempted armed robbery occurred when Iza directed armed individuals to break into the victim’s home. However, the victim fired a gunshot, causing the intruders to flee. This incident is part of a larger scheme involving Iza’s criminal activities.
The scheme also included other violent acts, such as Iza holding victims at gunpoint and forcing them to transfer large sums of money. Between 2020 and 2022, Iza fraudulently gained access to Meta Platforms Inc.’s business manager accounts, stealing over $37 million in cryptocurrency.
Both Iza and Saavedra admitted to federal tax crimes as part of their plea agreements. Iza willfully avoided paying approximately $6.8 million in federal income tax for 2021. On the other hand, Saavedra failed to report $373,146 in income and subscribed to a false tax return.
The two individuals are expected to face further legal consequences following their upcoming court appearances in U.S. District Court in downtown Los Angeles.
