A cryptocurrency businessman known as "The Godfather" and a Los Angeles County Sheriff's Department deputy have agreed to plead guilty to federal charges, including conspiracy and tax crimes. The Justice Department announced that Adam Iza, 24, and Eric Chase Saavedra, 41, will face charges related to violating civil rights through intimidation and extortion.
Adam Iza, residing in Beverly Hills and Newport Coast, was charged with conspiracy against rights, wire fraud, and tax evasion. He has been in custody since September 2024. Eric Chase Saavedra of Chino was charged with conspiracy against rights and filing a false tax return.
Both individuals are expected to appear in United States District Court in Los Angeles soon. United States Attorney Martin Estrada stated, "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."
Assistant Director Akil Davis from the FBI's Los Angeles Field Office added that the defendants profited by abusing the criminal justice system. According to plea agreements, Iza hired off-duty deputies for personal enforcement against rivals. Saavedra used his position to access sensitive information for Iza's benefit.
Saavedra founded a private security company employing active deputies. From August 2021 to March 2022 and again from July 2024 until Iza's arrest, he provided security services costing $100,000 monthly.
Saavedra accessed law enforcement databases illegally for personal information on behalf of Iza. He also obtained search warrants under false pretenses for Iza's disputes. In one instance, believing a victim had over $100 million in cryptocurrency on a laptop, Saavedra secured an illegal warrant leading to an attempted home invasion.
The documents reveal other violent incidents involving LASD deputies acting under Iza's orders. Additionally, Iza admitted stealing over $37 million by accessing Meta Platforms Inc.'s business accounts fraudulently.
Both men confessed to federal tax crimes; Iza avoided approximately $6.7 million in taxes for 2021 while Saavedra failed to report about $373,146 in income.
Special Agent Tyler Hatcher from IRS Criminal Investigation commented on their partnership: "Mr. Iza’s and Mr. Saavedra’s relationship was little more than a thuggish partnership between a thief and a crooked cop."
Iza could face up to 35 years in prison while Saavedra may receive up to 13 years upon pleading guilty.
The investigation is led by the FBI and IRS Criminal Investigation with assistance from the Los Angeles County Sheriff’s Department.
Assistant U.S. Attorneys Daniel J. O’Brien, J. Jamari Buxton, and Maxwell K. Coll are prosecuting this case.