The founder of Zort Inc., Adam Iza faces bribery allegations by the FBI of paying LASD deputies to go after a former partner.
The FBI is currently making serious allegations against Adam Iza, the founder of Zort Inc., a cryptocurrency platform. He is accused of corrupting deputies from the Los Angeles Sheriff’s Department (LASD) to target a former business partner. This charge has caused significant disruptions in the cryptocurrency industry and law enforcement.
Iza allegedly paid LASD deputies up to $280,000 per month, according to an FBI affidavit filed on September 23, 2024, and made public three days later on September 26. Reportedly, these payments were employed to monitor the movements of a former associate identified as E.Z., file false search warrants, and gain illegal access to police databases.
Extortion Campaign Initiated by Kidnapping Attempt
The troublesome incident commenced in November 2021 while E.Z. and Iza were driving in Riverside County, California. An SUV approached them after they made a brief stop for food. Two individuals, one of whom was armed, attempted to coerce E.Z. into the vehicle. E.Z. was able to escape and promptly contacted the police, as he suspected a kidnapping attempt. The armed men were subsequently identified as former LASD deputies, whom Iza employed as part of his security team.
The authorities were presented with a conflicting account by Iza. He claimed that E.Z. was acting erratically and owed him $300,000 from a cryptocurrency deal, which prompted him to summon his security team. The former deputy who confronted E.Z. with a gun defended his actions, asserting that he was informed that E.Z. was armed. Nevertheless, the sole item discovered in E.Z.’s possession was an electric screwdriver.
The FBI reported that E.Z. was the victim of a “campaign of intimidation” following this encounter. The harassment was exacerbated when it was alleged that Iza accessed police databases to obtain personal information about E.Z. and his family. Subsequently, he transmitted threatening messages that contained personal photographs and images of sensitive law enforcement data.
Additionally, it is alleged that Iza employed a private investigator, K.C., to obtain additional confidential information regarding E.Z., including illegally acquiring a GPS warrant through corrupt LASD officers.
Allegations of bribery contribute to the proliferation of cryptocurrency crimes
An additional victim came forward to accuse Iza and E.Z. of breaking into their residence, which further escalated the scandal. Iza allegedly impersonated an FBI agent and confiscated a laptop containing cryptocurrency while simultaneously threatening the victim at gunpoint to obtain the password. This offense seemed to be a component of a more extensive scheme that encompassed deception, extortion, and bribery.
Additionally, Iza is currently being prosecuted for tax evasion. According to authorities, Iza concealed tens of millions of dollars between 2020 and 2022, neglecting to report any of his income to the IRS. According to reports, these funds were channeled through Zort and businesses affiliated with his former girlfriend.
Consequently, Iza faces various charges, including tax fraud and conspiracy against rights. Despite the severity of these allegations, his legal team has maintained silence. The deep and troubling connections between cryptocurrency and criminal activity are underscored as the case advances.