On Monday, Adam Iza, a California cryptocurrency figure, pleaded guilty in federal court to orchestrating an attempted kidnapping of the parents of Veer Chetal. The case, prosecuted by the U.S. Attorney’s Office for the Central District of California, is closely tied to a staggering $245 million Bitcoin theft and ranks among the Justice Department's recent high-profile crackdowns on crypto-related violent crime.
The 25-year-old Iza, also known as Ahmed Faiq, previously ran the crypto trading firm Zort and styled himself as “the Godfather.” According to court documents, Veer Chetal and two accomplices impersonated tech support from Google and cryptocurrency exchanges, tricking a Washington state resident into giving up access to 4,100 Bitcoin. At a price of roughly $60,000 per coin at the time, the haul was worth about $245 million. In a bid to grab a share of the stolen funds, Iza and a fellow conspirator plotted to kidnap Chetal’s parents and force him to hand over part of the loot. Ultimately, the abduction plan was never carried out.
Separate $37 Million Meta Fraud
Beyond the kidnapping plot, Iza admitted to a separate criminal scheme. Between 2020 and 2022, he fraudulently accessed Meta’s (formerly Facebook) business manager accounts and used them to obtain unauthorized lines of credit, stealing more than $37 million. This independent fraud further compounded the felony charges against him.
Prosecutors Push for at Least 14 Years
In their sentencing memorandum, federal prosecutors stressed that Iza’s involvement in attempted kidnapping and large-scale financial fraud—both clearly premeditated—warrants a prison term of at least 14 years. They argued that only a severe sentence can safeguard the financial system and public safety. If the recommendation is adopted, Iza would become a standout example of a defendant receiving a lengthy sentence for combining crypto theft with violent crime. While the court has yet to set a sentencing date, his plea agreement virtually guarantees him a long federal prison term.
Veer Chetal is separately facing legal consequences for his role in the Bitcoin heist, with his case being handled in a parallel proceeding. The two prosecutions collectively illustrate how cryptocurrency offenses are expanding from online fraud into physical violence. A sentencing hearing for Iza is expected in the coming weeks, and he remains in custody awaiting his final judgment.