Adam Iza, founder of the Zort crypto trading platform, and former Los Angeles County Sheriff’s Department deputy Eric Chase Saavedra have pleaded guilty to federal crimes including conspiracy, civil rights violations, and tax evasion. The plea agreements revealed that Iza, referred to as the “crypto godfather,” coordinated illegal activities involving intimidation and fraud, misusing law enforcement resources with Saavedra’s help. Saavedra, leveraging his role as a former deputy, illegally accessed sensitive databases and fabricated affidavits to assist Iza in targeting rivals. Prosecutors detailed violent acts linked to their scheme, including armed threats and extortion attempts that led to significant financial theft. Iza is accused of defrauding Meta Platforms Inc. by stealing over $37 million from business accounts. Both defendants admitted to tax evasion, with Iza allegedly evading $6.7 million in taxes. Iza could face up to 35 years in prison, while Saavedra faces up to 13 years. Their cases highlight the severe misconduct and corruption within law enforcement.

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