Federal prosecutors have filed charges against Adam Iza, also known as Ahmed Faiq or The Godfather, for his alleged involvement in a scheme of fraud and bribery. Iza, the founder of the crypto trading platform Zort, is accused of evading taxes, funneling millions of dollars through shell companies, and using the funds to finance his extravagant lifestyle.
Reports suggest that Iza’s purchases included high-end cars, rent payments for a Bel Air mansion, and even a $64,000 leg-lengthening surgery. However, a significant aspect of the charges revolves around Iza’s collaboration with members of the Los Angeles Sheriff’s Department (LASD). The FBI’s investigation revealed that Iza paid corrupt deputies substantial sums of money for access to police data and fake search warrants, with payments reaching up to $280,000 per month.
One of Iza’s alleged victims, identified as E.Z., was reportedly harassed and threatened to surrender a laptop containing cryptocurrency. Threatening messages, including photos of family members and their car, were sent by Iza to intimidate E.Z. Further evidence links Iza to a suspicious search warrant issued by a deputy, which included E.Z.’s phone number despite lacking any real investigative relevance.
Investigators believe Iza utilized businesses registered under his ex-girlfriend’s name to pay off the involved deputies. Facing charges of conspiracy against rights and tax evasion, Iza and his legal team, as well as the LASD, have yet to comment on the allegations. This case sheds light on a network of corruption, fraud, and police misconduct that federal agents are actively investigating.
The prevalence of crypto-related crime in the United States is a growing concern, with recent FBI reports indicating that Americans lost $5.6 billion in 2023 due to crypto scams. As the investigation unfolds, the implications of Iza’s alleged actions underscore the importance of addressing and combating financial crimes within the crypto space.
