Crypto Exec Accused of Bribing Cops to Extort Victim’s Assets, FBI Alleges

The FBI reported that E.Z. was subjected to a ‘campaign of intimidation’ after Iza allegedly accessed police databases to retrieve personal information about E.Z. and his family.

Key Notes

Adam Iza, the founder of Zort Inc, faces FBI allegations of bribing LASD deputies to target a former partner.Iza allegedly paid $280,000 per month for illegal access to police databases and filed false warrants.Additional charges include tax evasion, with Iza accused of hiding millions in undeclared income through Zort.

Adam Iza, founder of Zort Inc, a cryptocurrency platform, now faces serious allegations from the FBI. He is accused of bribing deputies from the Los Angeles Sheriff’s Department (LASD) to target a former business partner, shaking both the cryptocurrency industry and law enforcement.

According to an FBI affidavit filed on September 23, 2024, and made public three days later on September 26, Iza allegedly paid LASD deputies up to $280,000 per month. These payments were reportedly used to gain illegal access to police databases, file false search warrants, and monitor the movements of a former associate identified as E.Z. 

Kidnapping Attempt Sparks Extortion Campaign

The troubling incident began in November 2021 when E.Z. and Iza were driving in Riverside County, California. After a quick stop for food, an SUV approached them. Two men, one armed, attempted to force E.Z. into the vehicle. E.Z. managed to flee and immediately contacted the police, suspecting a kidnapping attempt. The armed men were later identified as former LASD deputies working for Iza as part of his security team.

Iza provided a conflicting account to the authorities. He stated that E.Z. owed him $300,000 from a cryptocurrency deal and had been acting erratically, which led him to call in his security team. The ex-deputy who confronted E.Z. with a gun defended his actions, claiming he was told E.Z. was armed. However, the only item found in E.Z.’s possession was an electric screwdriver.

After this encounter, the FBI reported that E.Z. was subjected to a “campaign of intimidation.” The harassment intensified when Iza allegedly accessed police databases to retrieve personal information about E.Z. and his family. He then sent threatening messages, including images of sensitive law enforcement data and personal photos. 

Moreover, Iza is accused of hiring a private investigator, K.C., to dig up more confidential details on E.Z., such as tracking him using a GPS warrant obtained illegally through corrupt LASD officers.

Bribery Allegations Deepen Crypto Crimes

The scandal escalated further when another victim stepped forward, accusing Iza and E.Z. of breaking into their residence. Iza allegedly pretended to be an FBI agent, seizing a laptop filled with cryptocurrency while threatening the victim at gunpoint to obtain the password. This crime appeared to be part of a larger scheme involving bribery, extortion, and deceit.

Moreover, Iza is facing additional charges, including tax evasion. Authorities claim that between 2020 and 2022, Iza hid tens of millions of dollars, failing to declare any of his income to the IRS. These funds were reportedly funneled through Zort and businesses connected to his former girlfriend.

As a result, Iza now confronts numerous charges, from conspiracy against rights to tax fraud. His legal team has remained silent despite the gravity of these allegations. As the case progresses, it highlights the deep and troubling ties between cryptocurrency and criminal activity.

Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

Cryptocurrency News, News