Self-styled “Godfather” Adam Iza has been sentenced to 78 months in federal prison for defrauding Meta of more than $37 million. The 26-year-old also pleaded guilty to tax evasion and using off-duty Los Angeles County sheriff’s deputies to intimidate rivals.
Iza’s sentence runs concurrently with a 15-year term he received last month for his role in an attempted bitcoin robbery. U.S. District Judge Percy Anderson ordered him to pay $23.4 million in restitution for the scheme that caused an estimated $13.3 million tax loss.
Key facts
- Adam Iza was sentenced to 78 months in federal prison for wire fraud, conspiracy against rights, and tax evasion.
- The fraud involved gaining access to Meta advertising accounts and credit lines, resulting in over $37 million in losses to the company.
- Iza received at least $36.4 million in income from the scheme while concealing ownership of his company, Zort.
- He hired off-duty deputies to obtain confidential law-enforcement information and harass individuals he viewed as rivals.
- The sentence runs concurrently with a 15-year prison term for an attempted bitcoin robbery in August 2024.
- A court order requires Iza to pay $23.4 million in restitution.
Why it matters
The Department of Justice stated that the case demonstrates how crypto custodians can be used in broader fraud and tax-evasion schemes, noting that Iza admitted moving corporate income tied to the fraud to these custodians.