A Los Angeles crypto entrepreneur, nicknamed “The Godfather,” is said to be posing as the Federal Bureau of Investigation (FBI) and stealing crypto at gunpoint.
In the year In the 2018 robbery, Adam Iza allegedly stole a laptop containing the cryptocurrency, held a man known as “Victim TW” and his girlfriend at gunpoint and demanded the laptop's password.
Iza was arrested earlier this week and charged with conspiracy and tax evasion. He is set to appear before a California district judge on Oct. 8, according to court filings.
He ran a cryptocurrency trading platform known as Zort, which described itself as an “automated cryptocurrency trading platform powered by artificial intelligence.
The platform had an iOS and Android app and was covered by many popular crypto outlets. His website and social channels are still active as of this writing.
According to the FBI's complaint, Izza allegedly paid tens of thousands of dollars into personal accounts of local Los Angeles County Sheriff's Offices (LASPD) “in return for unlawful acts performed by him as a law enforcement officer.” One payment from Zort's business account was made to an LAPD officer, totaling $154,933.
These actions may include harassment of the enemy and arrests and searches.
According to the records, Iza is accused of paying policemen to harass and search his enemies. On several occasions, he has been accused of sending threatening text messages and demanding the arrest of a personal enemy on drug charges.
In September 2021, a man named “Victim RC” was picked up by an LAPD deputy and arrested for drug possession, and his home was later raided. The victim said he did not know about the materials.
“Victim RC” said he worked with Iza as an event planner and was sent a photo of the CLETS report, a form of background check, along with an LAPD ID card in the frame of the photo.
Zort's founder is accused of using a web of shell companies and affiliates to hide thousands of dollars in taxes from authorities.
According to the FBI complaint, they allegedly evaded $1,715,196 in federal taxes and did not report any taxes between 2020 and 2022.
He was cited for using the proceeds of his tax evasion to buy “several luxury cars, rent for a Bel Air mansion, cosmetic surgery to lengthen his legs, and many other luxury expenses.”
The LAPD has not yet made an official comment on the news. However, the LA Times reported earlier this week that several Los Angeles County sheriffs have been relieved of their duties due to a federal investigation.
Edited by Stacy Elliott.
Daily Debrief Newspaper
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