Founder of crypto trading platform Zort and former Los Angeles police officer plead guilty to charges of conspiracy, tax evasion, etc

Odaily Planet Daily News: According to documents from the US Department of Justice (DOJ), Adam Iza, founder of the cryptocurrency trading platform Zort, and Eric Chase Saavedra, former Los Angeles police officer, have pleaded guilty to multiple charges, including conspiracy, tax evasion, and civil rights violations. The Department of Justice stated that Iza implemented a plan involving fraud, intimidation, and extortion against several victims in the Los Angeles area. His accomplice Saavedra abused law enforcement resources to assist Iza's operation. According to prosecutors, Iza has been in federal detention since September 2024, with a maximum sentence of 35 years in prison. Saavedra has resigned from the Los Angeles Police Department and can be sentenced to up to 13 years in prison. Both of them will be tried in federal court in Los Angeles. Last September, the Federal Bureau of Investigation (FBI) accused the founder of the cryptocurrency trading platform Zort of cryptocurrency fraud and bribery of corrupt law enforcement officials. The FBI has stated that Adam Iza, the operator of the cryptocurrency trading platform Zort, is suspected of paying three Los Angeles Sheriff's assistants fees to obtain information on robbery targets. Adam Iza pays police $280000 per month. The FBI alleges that Adam Iza accumulated wealth through shell companies, used the funds for luxury expenses, and concealed tens of millions of dollars in income between 2020 and 2022, without declaring any income tax.