A cryptocurrency executive, Adam Iza, has been implicated in an extensive extortion scheme involving deputies from the Los Angeles Sheriff’s Department (LASD), according to an FBI affidavit. Iza, associated with the Zort platform, is facing serious charges, including conspiracy against rights and tax evasion, amid allegations of coercing individuals into transferring money and property under duress.
Allegations of corruption and extortion
The FBI’s investigation centers on claims that Iza engaged in a pattern of extortion, utilizing LASD deputies to carry out illegal acts. This included unauthorized searches and arrests intended to intimidate victims. One notable case detailed in the affidavit involves a victim referred to as E.Z., who reported an attempted robbery and kidnapping orchestrated by Iza and his associates. The FBI alleges that Iza secured an unlawful warrant targeting E.Z. Additionally, during a home invasion robbery in 2018, Iza reportedly impersonated an FBI agent to steal a laptop containing cryptocurrency and demanded passwords from the victim.
Victim reports gunpoint extortion
Another victim, identified as R.C., alleged that he was coerced into transferring $25,000 from his business account to Iza’s account. This transfer occurred under extreme duress, as R.C. was reportedly held at gunpoint by individuals claiming to be law enforcement officers. R.C. stated that the bodyguards surrounding him appeared to have ties to law enforcement, contributing to the intimidation he faced. The affidavit suggests a financial trail linking Iza and his associates to payments made to LASD deputies, with one deputy reportedly receiving over $250,000 from Iza’s company, Zort, in exchange for facilitating illegal activities.
Tax evasion and lavish spending
In addition to the extortion claims, the investigation uncovered evidence of substantial tax evasion. Iza allegedly accrued tens of millions of dollars through questionable means but failed to file income tax returns for 2020 through 2022. During this period, he reportedly lavished spending, including leasing high-end vehicles such as Ferraris and Lamborghinis, purchasing luxury goods, and financing extensive travel.
The affidavit indicates that Iza left the United States for the United Arab Emirates in March 2023. He made a brief return in July 2024. Messages reviewed by the FBI revealed that Iza expressed intentions to relocate to Monaco or Switzerland. When the affidavit was filed, he reportedly prepared to travel from Los Angeles to Zurich, Switzerland, raising concerns about his potential efforts to evade authorities.
The allegations against Iza represent a severe breach of both legal and ethical standards, involving public officials and an intricate web of extortion and financial misconduct. As the investigation unfolds, the implications of these accusations could lead to significant repercussions for Iza and the individuals involved in this alleged conspiracy.
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