Adam Iza, the 24-year-old founder of the Zort crypto trading platform, and former Los Angeles County Sheriff’s Deputy Eric Chase Saavedra, 41, pleaded guilty to multiple federal charges.
Adam Iza, the 24-year-old founder of the Zort crypto trading platform, and former Los Angeles County Sheriff’s Deputy Eric Chase Saavedra, 41, pleaded guilty to multiple federal charges on Jan. 17, 2025. They admitted to conspiracy, wire fraud, civil rights violations, and tax evasion. Iza, who operated the Zort platform, and Saavedra were accused of using their positions for personal gain in a series of criminal activities.
Iza ran a fraudulent scheme, exploiting law enforcement connections and engaging in extortion, wire fraud, and theft. Saavedra, a former deputy sheriff, helped Iza by accessing police databases and using his authority to assist in criminal acts. Saavedra, who also ran a private security business, facilitated these actions by providing protection and helping Iza obtain sensitive information. In one instance, Saavedra secured a fake search warrant to locate a victim, which led to an attempt to enter the individual’s home forcefully. The victim fired a warning shot to prevent the break-in.
Prosecutors also outlined Iza’s fraudulent activities, including defrauding Meta Platforms Inc. of over $37 million between 2020 and 2022. Iza evaded $6.7 million in taxes, and Saavedra failed to report $373,146 in income. Both men face significant prison sentences for their crimes. Iza could face up to 35 years in prison, while Saavedra is looking at a maximum of 13 years. Both are set to appear in federal court in Los Angeles soon.
Saavedra’s actions led to his resignation from the Sheriff’s Department, and several other deputies were relieved of their duties due to their involvement in the case. The Sheriff’s Department condemned Saavedra’s conduct, emphasizing that law enforcement officers must not use their power for personal gain. They expressed commitment to removing corrupt officers and restoring public trust in the department.
The case was investigated by the IRS Criminal Investigation Los Angeles Field Office, and Tyler Hatcher, a special agent from the office, called the partnership between Iza and Saavedra a “thuggish partnership” that undermined public trust. Both men’s actions, particularly Saavedra’s abuse of his position as a law enforcement officer, have raised serious concerns about corruption within police departments.
In addition to their criminal activities, Iza and Saavedra’s involvement in illegal transactions and scams has drawn attention to the vulnerability of both private individuals and organizations to fraud. Their actions have led to a broader conversation about the role of law enforcement officers in perpetuating crime and the measures needed to combat such misconduct.
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