Adam Iza , the CEO of cryptocurrency platform Zort , was arrested on Monday on federal charges of extortion, conspiracy, and tax evasion. Prosecutors allege that Iza paid off Los Angeles County sheriff's deputies to carry out illegal searches and arrests, targeting individuals for financial gain. According to court documents, Iza allegedly paid deputies up to $280,000 per month to engage in unlawful activities, including a failed kidnapping attempt in 2021.
Prosecutors claim Iza attempted to steal digital assets stored on a business associate's phone during the kidnapping. In addition to extortion, Iza is accused of hiding millions of dollars through shell companies and spending lavishly on luxury items. Federal investigators allege that Iza used his connections with deputies to obtain illegal GPS tracking warrants to facilitate his extortion schemes.
The case also involves accusations that Iza extorted an event planner over a party dispute, leading to an unlawful arrest and financial loss. Several deputies have been relieved of duty for their involvement, and Iza faces multiple charges with a court appearance scheduled for Oct. 8.
The investigation is ongoing..