Key highlights:
- Crypto Godfather Adam Iza gets a 78-month prison sentence.
- The case involved more than $37M in Meta fraud.
- Five former deputies were convicted in the scheme.
Adam Iza, who called himself the “Crypto Godfather,” has now faced another prison sentence. He has reportedly been sentenced to 78 more months in prison for a series of crimes involving Meta, crypto, and former Los Angeles sheriff’s deputies. The new sentence will run alongside his existing prison term, but he will be required to pay an additional fine of more than $23 million.
Crypto Godfather gets another 78-month prison sentence
Adam Iza, or the self-proclaimed Crypto Godfather, is facing a fresh prison sentence of 78 months, which will go concurrently with the existing term. The case is based on his involvement in several crimes, including a $37 million fraud scheme targeting Meta, tax evasion, and the use of former Los Angeles sheriff’s deputies to intimidate people involved in disputes with him.
It is worth noting that Iza is already serving a prison sentence for an earlier crypto-related robbery case. Imposed by US District Judge Percy Anderson, the latest sentence will run at the same time as the previous sentence. This means that the additional 78 months will not extend the amount of prison time he has to serve.
In addition to this, Crypto Godfather has to pay $23,402,766 in restitution. Reportedly, he pleaded guilty in January 2025 to conspiracy against rights, wire fraud, and tax evasion. Since September 2024, he has remained in custody.
How Iza used former deputies in the scheme
Iza reportedly used off-duty Los Angeles County sheriff’s deputies as personal security between August 2021 and April 2022. According to his plea agreement, Iza worked with the deputies to obtain confidential law enforcement information and personal details about people with whom he had financial or other disputes.
He then used the information to locate and intimidate those individuals. Iza and deputies also sought court-authorized search warrants as part of their efforts to track down people involved in these disputes.
According to the Department of Justice, five former deputies have been convicted for their involvement in the scheme. Their sentence included prison terms for helping Iza with extortion, arranging a fake drug arrest, obstructing an investigation, and submitting a false search warrant application.
Unveiling the $37M Meta fraud
Additionally, Iza was also involved in a fraud scheme targeting Meta’s business advertising system. From December 2020, he had access to Meta Business Manager accounts and the credit lines connected to them. He then sold access to those accounts to advertising companies.
Thus, some Meta customers were charged for advertising campaigns they had never purchased. Later, Meta refunded the affected customers when the unauthorized charges were discovered.
The case also involves the transfer of the fraud proceeds through crypto custodians. Prosecutors stated that the team used crypto to conceal the money and avoid paying taxes on it.
Source:: Crypto ‘Godfather’ Gets 6 Years After $37M Meta Fraud and Deputy Corruption Scheme