From CoinDesk · By Olivier Acuna
Adam Iza, 26, was sentenced to 78 months in federal prison for defrauding Meta of more than $37 million, evading taxes and using off-duty Los Angeles County sheriff’s deputies to intimidate rivals.
Prosecutors said Iza gained access to Meta advertising accounts and credit lines, received at least $36.4 million from the scheme and caused an estimated $13.3 million tax loss.
Iza was ordered to pay $23.4 million in restitution, and his sentence will run concurrently with a 15-year term for his role in an attempted Bitcoin robbery.
Adam Iza, 26, a self-styled businessman who called himself “The Godfather," was sentenced to 78 months in federal prison for defrauding Meta of more than $37 million, the U.S. Department of Justice said Tuesday.
Iza was also found guilty of evading taxes and using off-duty Los Angeles County sheriff’s deputies to intimidate people he viewed as rivals, the statement added.
U.S. District Judge Percy Anderson also ordered Iza to pay $23.4 million in restitution.
Iza pleaded guilty in January 2025 to conspiracy against rights, wire fraud and one count of tax evasion. The sentence runs concurrently with the 15-year prison term he received last month in Connecticut for his role in an attempted bitcoin robbery in August 2024.
Prosecutors said Iza gained access to Meta Business Manager accounts and associated credit lines, then sold that access to advertising companies. The Facebook parent company billed clients for ads they did not buy, then refunded them.
The case shows how crypto custodians can be used in broader fraud and tax-evasion schemes. Iza admitted moving corporate income tied to the fraud to crypto custodians while concealing his ownership of a company called Zort, according to the DOJ.
He received at least $36.4 million in income from the scheme, causing an estimated $13.3 million tax loss to the IRS, prosecutors said.
Between 2021 and 2022, Iza also hired off-duty deputies to obtain confidential law-enforcement information, personal data and search warrants to track and harass people with whom he had disputes. The five now former Los Angeles deputies involved in the scheme have since been convicted.
“Individuals with substantial financial resources must understand that they cannot purchase access to confidential databases, investigative tools, warrants, arrests, badges, or firearms for use in private disputes,” prosecutors said during sentencing, according to the DOJ statement.
A Brooklyn man was sentenced to 12 years in prison last month over a scheme involving the impersonation of Coinbase customer service representatives. Ronald Spektor deceived about 100 people, making them believe their accounts had been hacked. Las Vegas businessman Brent Kovar was found guilty in August of running a crypto Ponzi scheme. He defrauded at least 400 investors out of $24 million.