Crypto Mogul and L.A. Deputy Admit to Civil Rights Violations and Fraud Scheme

The cryptocurrency businessman and sheriff's deputy face decades in prison for orchestrating intimidation, extortion, and tax crimes using law enforcement resources.

• Adam Iza, a cryptocurrency entrepreneur known as 'The Godfather,' and LASD deputy Eric Chase Saavedra have pleaded guilty to charges including conspiracy, wire fraud, and tax evasion.
• Iza hired Saavedra and other deputies to act as enforcers, using illegal search warrants, intimidation, and extortion to target business rivals and individuals in personal disputes.
• Saavedra admitted to abusing his law enforcement credentials to access sensitive databases and fabricate search warrants to assist Iza's criminal activities.
• The scheme included violent acts, such as holding victims at gunpoint and attempting a home invasion to steal a laptop believed to contain $100 million in cryptocurrency.
• Both face significant prison sentences, with Iza potentially serving up to 35 years and Saavedra up to 13 years, as investigations into their actions continue.

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Orange County Register U.S. Department of Justice Los Angeles Times