FBI Investigates Crypto Platform Founder for Alleged Extortion Scheme with Law Inforcement
19.11.2024 22:00 1 min. read Kosta Gushterov
The founder of a cryptocurrency trading platform is under investigation by the FBI for allegedly using corrupt Los Angeles Sheriff’s Department (LASD) deputies to carry out a series of extortion and other criminal activities.
Adam Iza, known as “The Godfather” and the creator of the platform Zort, is facing charges related to fraudulent financial gains and conspiracy with law enforcement officers.
According to recent court filings, the FBI has been scrutinizing Iza for extorting money and property from victims both in Los Angeles and beyond. Special Agent Barbara Johnson claims Iza paid substantial sums to three LASD deputies, who acted as enforcers for his illicit operations.
These deputies are accused of carrying out unlawful searches and arrests in an effort to silence and intimidate victims. Iza allegedly concealed millions of dollars of income, evading taxes and using shell companies to hide his financial transactions.
Court documents reveal that between 2020 and 2022, Iza amassed a fortune that he spent on lavish personal items, including high-end vehicles, a mansion in Bel Air, and even cosmetic surgery to lengthen his legs. Iza reportedly failed to report any of his earnings to the IRS during this period. He has pleaded not guilty to the charges, according to a report from the Los Angeles Times.
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