A cryptocurrency businessman known as "The Godfather" and a Los Angeles County Sheriff's Department deputy have agreed to plead guilty to federal charges. The charges include conspiracy against rights, wire fraud, and tax evasion. Adam Iza, 24, with residences in Beverly Hills and Newport Coast, has been in custody since September 2024. Eric Chase Saavedra, 41, of Chino, an LASD deputy and former federal task force officer, faces charges of conspiracy against rights and subscribing to a false tax return.

Both individuals are expected to appear in United States District Court in Los Angeles soon. United States Attorney Martin Estrada commented on the case: “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.” Akil Davis from the FBI’s Los Angeles Field Office added that “the defendants profited handsomely by abusing the criminal justice system.”

According to plea agreements, Iza hired off-duty deputies for personal enforcement against his rivals. Saavedra used his credentials to access sensitive databases for Iza's benefit. He founded a private security company that employed active LASD deputies and provided services to Iza at significant costs.

Court documents reveal that Saavedra obtained unauthorized search warrants using false pretenses. This included tracking down individuals with whom Iza had disputes. An incident involved an attempted home invasion where armed individuals tried to steal a laptop believed to contain cryptocurrency.

Iza admitted stealing over $37 million through fraudulent means involving Meta Platforms Inc.'s business manager accounts. Both men also confessed to federal tax crimes related to unreported income.

Special Agent Tyler Hatcher from IRS Criminal Investigation stated: “Mr. Iza’s and Mr. Saavedra’s relationship was little more than a thuggish partnership between a thief and a crooked cop.” After pleading guilty, Iza could face up to 35 years in prison while Saavedra could face up to 13 years.

The investigation is being conducted by the FBI and IRS Criminal Investigation with assistance from the Los Angeles County Sheriff’s Department.