Adam Iza, known as âThe Godfatherâ in the cryptocurrency world, has been arrested in Los Angeles on charges of theft and tax evasion. Iza allegedly stole a laptop containing cryptocurrency in 2018, holding a victim and her girlfriend at gunpoint to obtain passwords and access the digital funds. He is also accused of using some of the stolen and evaded money to pay Los Angeles police officers, granting illegal favors such as arresting enemies and carrying out trumped-up searches.
In addition to the theft, Iza allegedly used a network of shell companies to hide earnings and evade approximately $1.7 million in federal taxes between 2020 and 2022. With the money, she financed a life of luxury, buying expensive vehicles, renting mansions and even paying for plastic surgery to increase the length of her legs.
The case sheds light on the risks in the cryptocurrency market and the growing need for regulation and oversight to curb criminal activities.
