As a researcher with extensive experience in the field of digital currencies, I must say that the latest accusations against Adam Iza are deeply concerning and alarming. The alleged criminal activities, including extortion, bribery, and tax evasion, paint a grim picture of an individual who seems to be more interested in personal gain than in abiding by the law.
A person who launched a digital currency trading service is under scrutiny, as it’s alleged that he bribed Los Angeles police officers to assist him in forcibly taking a user’s cryptocurrency holdings.
A grievance lodged by the Federal Bureau of Investigation alleges that Adam Iza is suspected of offering bribes to three deputies from the Los Angeles Sheriff’s Department, with the intent of acquiring confidential police data and fabricating questionable search warrants against an unnamed business associate, referred to as E.Z., in a scheme to extort cryptocurrency.
As an analyst, I’ve uncovered some intriguing details regarding Iza, the visionary behind Zort Inc., a well-known cryptocurrency trading platform. It appears that there have been allegations that he paid as much as $280,000 per month to certain deputies, and in return, he gained access to sensitive information. This information was then reportedly used against E.Z. following an unsuccessful kidnapping attempt in Riverside County in November 2021.
As per a report examined by the FBI from the Riverside County Sheriff’s Department, it was stated that E.Z., who had been acquainted with Iza for more than two years, asserted that Iza orchestrated a situation where two men, one of whom was a former sheriff’s deputy, compelled him into an SUV at gunpoint. Remarkably, E.Z. was able to free himself and reached out to the authorities.
Instead of engaging bodyguards, Iza admitted to calling them because he was worried about his personal safety.
The FBI report added that Iza hired a private investigator to track E.Z. and sent him images of sensitive law enforcement data, including a “GPS search warrant” for a phone number that belonged to the victim.
Following the unsuccessful kidnapping attempt, E.Z. asserted that he had been sent images from mysterious phone numbers, which appeared to be his private information obtained from law enforcement databases.
1) In addition, the messages contained photos of his family, which increased the threatening nature of the situation, as stated in the complaint. The relentless harassment persisted, and E.Z. alleged that he was coerced by Iza to surrender a laptop, supposedly holding cryptocurrency.
In addition, it’s alleged that Iza has been involved in a crime where he pretended to be an FBI agent, threatened someone with a gun, and stole a laptop filled with cryptocurrency by deceiving the victim and demanding the password.
It’s also claimed that Iza is facing charges for not declaring millions of dollars in earnings, some from cryptocurrency transactions. From 2020 to 2022, it’s alleged that Iza and his associates accumulated over $30 million, moved the money through phantom corporations, and subsequently used these funds to acquire high-end vehicles, as well as pay for a mansion in Bel Air’s rent.
Authorities have accused Iza of conspiring against civil liberties and committing tax fraud. His court appearance is set for October 8th.
Crypto demand fueling crime spree
Regrettably, incidents similar to these are not uncommon in the cryptocurrency realm, where extortion and kidnapping cases have surfaced. Given the escalating worth of digital currencies such as Bitcoin, they’ve turned into attractive targets for criminal activities.
Earlier reports from crypto.news detailed an incident in August involving four suspected kidnappers in Malaysia. These individuals allegedly abducted someone and successfully extorted 1.2 million dollars worth of cryptocurrency as ransom from their captive’s family members.
In a separate case, authorities in Hong Kong arrested two Kidnappers who demanded $66,000 USDT in ransom payment.
In Spain last year, a crypto asset portfolio manager from a Dubai firm was kidnapped, with the perpetrators demanding a ransom of one million euros, both in traditional cash and digital currencies.
In the Solomianskyi district of Kyiv, Ukraine, during the month of July, a foreigner was tragically killed and his possessions, including three Bitcoins, were stolen.
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2024-09-27 12:54