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

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As a seasoned crypto investor with a penchant for navigating the complexities of this ever-evolving digital frontier, I must admit that the latest developments involving Adam Iza and Zort Inc have left me more than just a tad concerned.

The founder of Zort Inc, Adam Iza, is currently under scrutiny due to accusations made by the FBI. It’s claimed that he paid bribes to officers from the Los Angeles Sheriff’s Department (LASD) in order to focus investigations on a previous business associate. This situation has caused ripples of concern not only within the cryptocurrency sector but also among law enforcement agencies.

As stated in an FBI affidavit that became public on September 26, 2024, which was initially filed on September 23, it’s claimed that Iza is said to have paid LASD deputies amounts ranging up to $280,000 per month. These payments allegedly provided unlawful access to police databases, facilitated the submission of fake search warrants, and tracked the activities of a former acquaintance referred to as E.Z.

Kidnapping Attempt Sparks Extortion Campaign

In the chilling events that unfolded last November 2021, I found myself driving in Riverside County, California, alongside my companion E.Z. After a brief pitstop for some food, an ominous SUV drew near us. Two armed men, one of whom was previously with the Los Angeles Sheriff’s Department, attempted to coerce E.Z. into their vehicle, escalating the situation into what we suspected was a kidnapping attempt. Thankfully, E.Z. managed to escape and promptly alerted the authorities. The identities of these armed men were later revealed as members of Iza’s security detail who previously served with the LASD.

Iza gave a contradictory story to the officials. He asserted that E.Z. owed him $300,000 from a cryptocurrency transaction and had been behaving strangely, causing him to summon his security personnel. A former deputy who encountered E.Z. with a firearm justified his actions by saying he was informed E.Z. was armed. Nevertheless, the only thing discovered in E.Z.’s belongings was an electric screwdriver.

Following this incident, the FBI declared that E.Z. was exposed to a persistent strategy of intimidation. The harassment became more intense when Iza is said to have illegally obtained police records containing private information about E.Z. and his loved ones. Subsequently, he sent ominous messages containing confidential law enforcement data and personal photographs.

Additionally, it’s alleged that Iza employed K.C., a private investigator, to uncover further secret information about E.Z., including the use of an illegally obtained GPS warrant by corrupt LASD officers to trace him.

Bribery Allegations Deepen Crypto Crimes

The situation worsened as another individual came forward, claiming that Iza and E.Z. had illegally entered their home. It’s alleged that Iza posed as an FBI agent, taking a laptop laden with cryptocurrency while menacing the victim with a firearm to extract the password. This incident seemed to be connected to a broader plan encompassing bribery, blackmail, and fraud.

Beyond this, it’s important to note that Iza is also being accused of tax evasion. The authorities allege that from 2020 to 2022, Iza concealed over $50 million by not reporting any of his earnings to the Internal Revenue Service (IRS). It’s said that these funds were channeled through Zort and companies linked to his ex-girlfriend.

Consequently, Iza faces multiple accusations, ranging from undermining rights to tax evasion. Yet, his defense team has chosen not to comment on these serious claims. As the trial unfolds, it brings into sharp focus the concerning connections between cryptocurrencies and illegal activities.

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2024-09-27 13:39