A 25-year-old California cryptocurrency figure, Adam Iza, also known as Ahmed Faiq, pleaded guilty on Monday to orchestrating a foiled kidnap plot targeting the parents of Veer Chetal. Iza, who once ran a crypto trading firm called Zort and styled himself as the “Godfather,” hatched the plan in an attempt to seize a share of proceeds from a staggering $245 million Bitcoin theft.
The $245 million Bitcoin heist and the kidnapping attempt
Veer Chetal and two accomplices had stolen 4,100 Bitcoins from Washington state residents by impersonating Google and crypto exchange support staff. At the time, the haul was worth approximately $245 million. To extract a cut of that fortune, Iza conspired with others to abduct Chetal’s parents as leverage. The plot was intercepted by law enforcement before it could be carried out, and Iza has now admitted to the kidnap conspiracy in court.
A parallel $37 million Meta fraud scheme
Iza’s criminal enterprise extended far beyond violent debt collection. As part of his guilty plea, he also confessed to siphoning more than $37 million from Meta (formerly Facebook) between 2020 and 2022. He unlawfully gained access to Meta’s business manager accounts and credit lines, then channeled funds and goods through fraudulent transactions.
Federal prosecutors are now recommending a prison sentence of at least 14 years for Iza, underscoring the severity of a case that weaves together digital asset theft, violent kidnapping, and large-scale financial fraud. With Iza’s admission of guilt, this high-profile convergence of crypto crime and organized violence moves toward a close.