FBI Charges Crypto Exec in Major Extortion Scandal by Crypto Platform Founder Charged with Bribing LA Deputies According to the FBI, the founder of a digital cryptocurrency trading platform has been implicated in an audacious extortion plot with the help of law enforcement officials. Adam Iza allegedly paid three Los Angeles Sheriff’s Department deputies up to $280,000 per month as he tried to gain access to sensitive police data for his cryptocurrency exchange website, Zort Inc.
Questionable search warrants and police data for extortion
The information from the FBI complaint is that Iza used this information to threaten and extort a business associate-known as E.Z. The questionable search warrants were the ways through which dubious personal information would be used in order to coerce E.Z. into turning over cryptocurrency. It was after an attempted kidnapping in Riverside County, from which E.Z. managed to escape.
It also details alleged kidnapping and intimidation tactics, including an incident last November in which two men-allegedly one a former sheriff’s deputy-tried to force E.Z. into an SUV at gunpoint. Iza would later say he called the men as bodyguards out of fear for his safety. Despite that, E.Z. received threatening messages containing personal details and images of his family pulled from police databases, which ramped up the intimidation.
More Victim Allegedly Was Subject to Similar Tricks
This case involved claims that Iza impersonated an FBI officer and even forced one victim to give up a laptop containing digital assets while holding them at gunpoint until they gave him the password. Charges against Iza also include conspiracy against rights and tax evasion, because prosecutors said he concealed millions in income through shell companies.
Crypto Demand Fuels Wave of Crime
This is the reason why criminals are more interested in digital assets. Cases of extortion and kidnappings have also gone up in the industry. Kidnappings in Malaysia and Spain, murders in Ukraine are leading to more cases of crypto-related crimes being investigated by authorities across different countries.
Iza to Appear Before Court on October 8
Iza is scheduled to appear in court on October 8 on charges that range from conspiracy down to tax evasion. The case points out the increasing intersection of digital currencies with criminal enterprises, with law enforcers trying their best to keep pace with the complexities of such new-age crimes.
