FBI charges Zort founder with bribing LA sheriffs to extort victims

Adam Iza, founder of crypto trading platform Zort, has been charged with bribing officials of the Los Angeles Sheriffs Department (LASD) to help him extort, intimidate, and silence victims. He has also been charged with evading taxes.

The 35-page affidavit of a Federal Bureau of Investigation (FBI) agent detailed corruption within the LASD, the use of fake warrants, and drummed-up charges all to help Iza steal from his victims.

The FBI further accused Iza of using the stolen funds to support his luxurious lifestyle, spending it on luxury vehicles, rent payments for a Bel Air mansion, and cosmetic surgery to increase his height, among other personal expenses. Iza also allegedly bragged about paying as much as $280,000 per month to the LASD officers illegally working for him.

According to the affidavit, Iza, also known as Ahmed Faiq and The Godfather, allegedly concealed tens of millions of dollars obtained through fraudulent means between 2020 and 2022 to evade taxes.

One of Izas victims, identified as E.Z., had prior business relations with him. The victim alleged that Iza tried to kidnap him in order to gain access to his digital assets through his phone.

Iza allegedly attempted to kidnap the victim with two former LASD officials, who claimed to be his bodyguards. However, the attempt failed when E.Z. managed to escape.

E.Z. claims to have received several intimidating messages, one of which showed his information in a police database and another photo that contained the top portion of an LASD business card.

Furthermore, E.Z. and his associate received threatening messages from Iza demanding to turn over his laptop that contained crypto. Additionally, they were also harassed by Iza in other ways, including identity theft, stalking, impersonation, and phone number spoofing.

E.Z.s allegations have been corroborated by a private detective who was employed by Iza. cThe investigator, identified as K.C., further added that he had received several pieces of information from Iza that could only be obtained from law enforcement.

Furthermore, Izas law enforcement allies submitted fake affidavits to obtain warrants to track E.Z.s phone and also robbed the victims associate under Izas directions. The FBI also believes that Izas associates attempted to break into E.Z.s house, but the attempt was thwarted when E.Z. opened fire at the intruders in self-defense.

According to the affidavit, Iza used Zort and other businesses to pay over $250,000 to one of the corrupt police officers and his businesses between 2021 and 2022. Izas then-girlfriend further paid the officer $22,000 from her personal account and $198,149 from the account of Dream Agency, a shell company incorporated by her.

Iza and his girlfriend are also accused of bribing a total of three LASD officials and one of the officials brother.

The post FBI charges Zort founder with bribing LA sheriffs to extort victims appeared first on CryptoSlate.

Text source: CryptoSlate

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