Crypto Platform Founder and LA Sheriff’s Deputy Plead Guilty in Extortion Scheme

Ex-DOJ official John Garland and detective conspired in $1m digital currency scheme while violating suspects' rights

  • Los Angeles law enforcement officer and cryptocurrency platform founder admit to federal crimes.
  • The Department of Justice revealed details of a scheme involving intimidation and fraud.
  • Adam Iza, 24, created the Zort trading platform and coordinated illegal activities.
  • LASD deputy Eric Saavedra misused police resources to assist in criminal operations.
  • Both defendants face charges including conspiracy and civil rights violations.

Law Enforcement Corruption in Crypto Scheme

A Los Angeles County Sheriff’s Department deputy and a cryptocurrency platform founder have pleaded guilty to federal charges involving civil rights violations and tax evasion, according to a Department of Justice announcement on January 17.

- Advertisement -

Details of the Criminal Operation

Adam Iza, the 24-year-old founder of Zort cryptocurrency trading platform, admitted to orchestrating criminal activities that combined financial fraud with law enforcement intimidation. His co-defendant, Eric Chase Saavedra, 41, a former LASD deputy, acknowledged using his police authority and resources to support these illegal operations.

The case highlights the growing intersection between cryptocurrency-related crimes and law enforcement corruption. The Zort platform, which marketed itself as a legitimate cryptocurrency trading service, became a front for criminal activities.

Legal Implications and Precedent

This case represents a significant development in cryptocurrency-related law enforcement corruption, following similar incidents where authorities have identified collusion between digital asset operators and public officials. The prosecution demonstrates federal authorities’ increasing focus on cryptocurrency-related crimes involving public servants.

The guilty pleas mark another example of federal prosecutors’ success in targeting cryptocurrency schemes that exploit law enforcement connections, similar to previous cases involving corrupt officials in digital asset investigations.

✅ Follow BITNEWSBOT on Facebook, LinkedIn, X.com, and Google News for instant updates.

Consider a small donation to support our journalism

- Advertisement -

Previous Articles:

Stay in the Loop

Get exclusive crypto insights, breaking news, and market analysis delivered straight to your inbox. No fluff, just facts.

    1 Email per day. Unsubscribe at any time.

    - Advertisement -

    Latest News

    BBVA Provides Off-Exchange Custody for Binance Crypto Assets

    BBVA has started to offer off-exchange custody for the Binance cryptocurrency platform. This service allows...

    Bitcoin Soars as Fed Rate Cut Bets Rise, Crypto Rebounds to $4 Trillion

    Bitcoin and crypto prices rose sharply this week, with the market recovering to $4...

    China Orders Firms to Halt Stablecoin Research, Tightening Clampdown

    Chinese regulators have told local firms to stop publishing research and holding seminars about...

    60 Malicious Packages Target RubyGems, PyPI in Credential Theft Campaign

    Sixty malicious software packages targeted the RubyGems platform by disguising as automation tools for...

    Standard Chartered, Animoca JV Apply for Hong Kong Stablecoin License

    Standard Chartered Bank, Animoca Brands, and HKT have applied for a stablecoin issuer license...

    Must Read

    The Ultimate Guide on How to Understand a Cryptocurrency White Paper

    Today, cryptocurrency is a popular buzzword. We hear about it on the news, we read about it on the Internet. Yet, people are reluctant to...