The FBI has issued a federal forfeiture notice targeting nearly $1 million in assets tied to cryptocurrency businessman Adam Iza, known publicly as “The Godfather.” The listed property includes cash, vehicles, luxury items, watches and memorabilia. Iza has already pleaded guilty in two separate federal cases involving wire fraud, tax evasion, civil rights violations and an attempted Bitcoin robbery.
Seized property ranges from cash to a $275,000 watch
The notice, dated June 25, lists property seized from several locations and people connected to Iza. Among the items are $184,200 in cash taken from a Dana Point property, $3,700 seized from Iza in a Costa Mesa parking lot, a 2022 BMW M50i, a 2021 Ford F-250, a Jacob & Co. Opera Godfather musical watch, Louis Vuitton goods, Godfather-themed collectibles and other luxury items. Based on the values shown in the notice, the assets tied to Iza and related names total about $997,355.
By category, the listed property includes about $432,311 in cash, $105,300 in vehicles, a watch valued at $275,000, luxury goods worth roughly $175,558, and memorabilia worth about $8,870. The watch stands out. Its branding matches the image prosecutors have attached to Iza, who the Justice Department described as a cryptocurrency businessman using the “Godfather” nickname.
Two federal cases form the backdrop to the forfeiture action
The forfeiture notice is not a criminal complaint, but it shows what the government is trying to recover while the criminal matters continue. In January 2025, the Justice Department said Iza agreed to plead guilty in the California case to conspiracy against rights, wire fraud and tax evasion. Prosecutors said he used corrupt law enforcement connections, intimidation and fraud proceeds.
A second case was brought in Connecticut. In June 2026, the District of Connecticut said Iza pleaded guilty to a Hobbs Act robbery conspiracy tied to an attempted kidnapping and Bitcoin robbery. Prosecutors said he helped coordinate an attempted robbery and kidnapping in Danbury in August 2024. The targets were the parents of a person who had participated in the theft of hundreds of millions of dollars in Bitcoin. Iza is scheduled to be sentenced in August.
Prosecutors say the conduct reached beyond digital assets
In the California case, the DOJ accused Iza and Los Angeles County Sheriff’s Department deputy Eric Chase Saavedra of joining a conspiracy that targeted victims through intimidation, extortion, illegal search warrants and abuse of police power. Prosecutors also said Iza admitted to wire fraud and tax evasion. According to the DOJ, the fraud involved illegal access to Meta business manager accounts and the exploitation of advertising credit lines, causing tens of millions of dollars in losses.
The forfeiture notice shows how alleged crypto-related proceeds can move into visible luxury property after leaving the blockchain. Instead of stopping at wallets or exchange accounts, investigators are also following cash, cars, watches, handbags and collectibles. The document also includes separate digital asset seizure entries, such as 19,995.4 USDT held at OKX under the name Van Phuc Nguyen, valued at $19,999.40, along with Bitcoin and Ethereum held in Coinbase accounts in Connecticut. Those entries are separate from the Iza matter, but they point to the same enforcement pattern: authorities are pursuing both crypto balances and assets acquired after funds moved into the traditional financial system.
Claim deadline for the listed California assets is August 18
Federal forfeiture notices often draw less attention than indictments or guilty pleas, yet they have become a central part of crypto enforcement. Criminal cases focus on punishing conduct. Forfeiture proceedings focus on recovering property believed to be tied to criminal proceeds. In digital asset cases, that can mean wallets and exchange accounts, but also cash, vehicles, jewelry, watches, real estate and consumer goods.
The FBI notice states that anyone seeking to contest the forfeiture must file a claim or petition by the deadline in the notice. For the California assets connected to the Iza entries, the final date listed is August 18, 2026. That puts the asset-recovery process on a parallel track while the criminal cases move through sentencing and post-plea proceedings.
The filing adds a new layer to the Adam Iza case. It is no longer only about crypto fraud allegations and violent conduct tied to Bitcoin. It is also about how the government traces proceeds once they have been converted into luxury physical assets.