LOS ANGELES — In a shocking turn of events, a cryptocurrency businessman known as ‘The Godfather’ and a Los Angeles County Sheriff’s Department deputy have agreed to plead guilty to federal criminal charges, including violating the civil rights of business rivals and tax crimes.
Adam Iza, a 24-year-old resident of Beverly Hills and Newport Coast, has been charged with conspiracy against rights, wire fraud, and tax evasion. According to the Justice Department, Iza has been in federal custody since September 2024.
Eric Chase Saavedra, a 41-year-old LASD deputy from Chino, has been separately charged with conspiracy against rights and subscribing to a false tax return. Saavedra has agreed to plead guilty to these felony charges and is expected to make his initial appearance in United States District Court in downtown Los Angeles in the coming days.
The Justice Department announced that Iza and Saavedra have agreed to plead guilty to their felony charges, which include violating the civil rights of multiple victims in Los Angeles through intimidation, extortion, and other abuses of police power.
According to court documents, Iza hired off-duty LASD deputies, including Saavedra, to act as his personal enforcers against his enemies. The deputies would assist Iza in carrying out extortion, intimidation, setting people up for arrest, and abuse of legal process.
The plea agreement for Iza was filed this morning, while federal prosecutors filed charges, along with a plea agreement, in the case against Saavedra. Saavedra admitted to using his powers as a sworn law enforcement officer to improperly obtain court-authorized search warrants related to individuals with whom Iza had disputes.
Adam Iza, whose real full name is Adam Iza, will face conspiracy against rights, wire fraud, and tax evasion charges. His exact sentence or outcome is currently pending. Eric Chase Saavedra will face conspiracy against rights and subscribing to a false tax return charges. His exact sentence or outcome is currently pending.
This case is a stark reminder that when law enforcement officers violate their oath, they betray not only the public but also the vast majority of officers who do the job the right way.
Adam Iza and Eric Chase Saavedra’s guilty pleas are a significant victory for the people of Los Angeles and a testament to the bravery of those who came forward to report these egregious crimes.
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- Farhad Nafeiy, Iran Sanctions Violation and Tax Evasion, California 2024 · California
- Garcia Molina, Drug Trafficking, California 2024 · California
Key Facts
- State: California
- Category: White Collar Crime|Public Corruption
- Source: DOJ Press Release â†â€â€
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