'Crypto Godfather' Adam Iza Sentenced to 78 Months for $37M Meta Fraud and Extortion Ring

Adam Iza, known as the "Crypto Godfather," was sentenced in federal court on October 5, 2026, to 78 months in prison for wire fraud, tax evasion, and conspiracy against rights. The core of the case involved a scheme running from December 2020 to September 2024 where Iza hijacked Meta Platforms Inc. business-manager accounts and sold access to advertising firms. The illicit operation generated approximately $37 million in illegal proceeds, with Iza admitting to at least $36.36 million in gross income in his plea agreement. He routed the funds through crypto custodians and shell companies, causing more than $13.2 million in tax losses to the government between 2020 and 2023. Iza also admitted to employing five former Los Angeles County Sheriff's Department deputies at a peak cost of around $100,000 per month to extort and intimidate adversaries. The new 78-month sentence will run concurrently with a 15-year sentence he previously received in Connecticut for planning a violent kidnapping attempt against the parents of a Bitcoin thief.