Crypto Fraudster Adam Iza Faces 35-Year Sentence for Multi-Million Dollar Scam: Partner Pleads Guilty to Tax Evasion

The Scheme Behind the Headlines

Adam Iza, founder of the cryptocurrency trading platform Zort, orchestrated one of the crypto industry’s most elaborate fraud operations, running multiple schemes between 2020 and 2024 that generated millions in illicit income. Now, his former girlfriend Iris Ramaya Au has agreed to plead guilty to federal tax charges as the Justice Department continues to unravel the full scope of their criminal enterprise.

According to court documents filed on March 5, Au admitted to filing false tax returns and failing to report over $2.6 million in criminally obtained funds. The charges represent just one layer of a much larger investigation into how Adam Iza and his associates systematically defrauded victims and corrupted law enforcement.

How the Money Flowed: From Fraud to Luxury Spending

The financial trail reveals a sophisticated money laundering operation. Under Adam Iza’s direction, Au created shell companies and opened bank accounts to funnel illicit proceeds. Between 2020 and 2023, she transferred more than $2.6 million into personal accounts, transforming criminal profits into visible wealth.

The couple’s spending patterns tell the story: approximately $1 million went directly to bribing Los Angeles County Sheriff’s Department deputies. The remaining funds financed an extravagant lifestyle—luxury real estate purchases, high-end vehicles, designer jewelry, and couture clothing. Beyond personal indulgences, they collectively spent nearly $10 million on entertainment and converted roughly $16 million into cryptocurrency holdings.

The Coercion and Extortion Twist

The most disturbing element of Adam Iza’s crimes emerged from a November 2021 incident. Using information allegedly obtained through corrupted law enforcement, Iza and associates attempted to coerce a person identified as E.Z. into surrendering a laptop containing valuable cryptocurrency assets.

According to a Riverside County Sheriff’s Department report, the two men had previously collaborated in a crypto business. During what appeared to be a routine car trip, an armed SUV pulled alongside them. Two men exited—one brandishing a handgun—and ordered E.Z. into the vehicle. E.Z. managed to escape and contacted police, reporting what he believed was a kidnapping attempt orchestrated by Iza to gain access to his digital assets.

When questioned, Iza offered a different narrative: he claimed E.Z. had voluntarily agreed to pay him $300,000 for cryptocurrency. Investigators saw through this explanation, recognizing it as part of a pattern of coercion and intimidation.

The Unraveling: Guilty Pleas and Sentencing

Iza pleaded guilty in January to conspiracy, wire fraud, and tax evasion charges. His criminal portfolio also includes admissions to bribing law enforcement officials and obtaining search warrants through corruption—tactics he allegedly used to target his financial and personal rivals.

Au faces up to three years in prison under her plea agreement. Adam Iza, by contrast, confronts a maximum sentence of 35 years, with sentencing scheduled for June 16. The disparity reflects the severity and scope of his criminal conduct across multiple jurisdictions and victim categories.

The case underscores how crypto fraud schemes can extend beyond simple financial deception to encompass money laundering, law enforcement corruption, and violent coercion—creating a web of criminal activity that agencies across federal, state, and local levels must coordinate to prosecute effectively.