Two LA deputies face prison in $25K crypto extortion case
Two Los Angeles sheriff’s deputies have pleaded guilty to abusing their law enforcement roles in a civil rights conspiracy linked to jailed crypto entrepreneur Adam Iza, who referred to himself as “The Godfather.”
Federal prosecutors allege the deputies staged fake raids and used fraudulent warrants to intimidate victims involved with Iza’s criminal enterprise.
Adam Iza, founder of crypto trading firm Zort, pleaded guilty in January to conspiracy against rights, wire fraud, and tax evasion.
David Anthony Rodriguez, a deputy from La Verne, admitted to misusing police powers for a private security client unrelated to Iza.
Christopher Michael Cadman pleaded guilty after admitting to working directly for Iza, including holding a victim at gunpoint in Iza’s Bel Air mansion and forcing a $25,000 transfer.
Federal authorities said the deputies acted as private security for off-duty clients while abusing their official positions.
Eric Chase Saavedra, another deputy and former federal task force officer, also pleaded guilty to conspiracy against rights and false tax filings.
In one incident, Cadman orchestrated a staged traffic stop to arrest a victim without legitimate cause.
Rodriguez obtained a fraudulent search warrant by misleading a judge to access GPS tracking data used to harass and threaten victims.
Cadman received at least $40,500 from Iza in cash payments he failed to report on his 2021 tax return.
Payments from Iza’s firm extended to other law enforcement contacts, including a nearly $155,000 transfer to an LAPD officer.
Iza’s ex-girlfriend has pleaded guilty to failing to report $2.6 million earned from his schemes.
Prosecutors say Iza acquired $16 million in crypto fraudulently and spent millions on luxury items.
Rodriguez faces up to 10 years in prison, while Saavedra awaits sentencing.
The DOJ has not confirmed if further arrests are planned.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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