Crypto business owner Adam Iza charged with large-scale crypto fraud and bribery

In a shocking case, Adam Iza, the owner of the crypto platform Zort, has been charged in Los Angeles with large-scale crypto fraud, tax evasion and bribery of police officers.

The FBI revealed these allegations in documents filed in federal court on September 23 and made public on September 26.

Luxury living and fraud practices

According to the indictment, Iza collected millions of dollars through shell companies, financing a lavish lifestyle without reporting the income to the tax authorities. Between 2020 and 2022 he is said to have deviously siphoned away tens of millions.

Bribery of police officers

Iza is further accused of paying Los Angeles Sheriff’s Department (LASD) officers $280,000 monthly to serve unlawful search warrants and access confidential police data. He allegedly used the information obtained to intimidate an alleged victim known as “EZ” and force him to hand over a laptop containing cryptocurrency.

Intimidation and threats

EZ claims to have been the victim of an intimidation campaign, during which he received threatening messages with sensitive information from police databases, including photos of his family and car. According to a hired private investigator, Iza also sent confidential police documents, including search warrants that had been manipulated to intimidate EZ.

Years of fraud and corruption

Between 2020 and 2022, Iza allegedly paid a total of almost $200,000 in bribes to LASD officers through his crypto company Zort and other ventures. He is now charged with conspiracy, tax evasion and concealing millions in income.

This case highlights the cryptocurrency market’s vulnerability to fraud, corruption, and criminal activity that even involves law enforcement officials.