A visual representation of the digital cryptocurrency Bitcoin is shown in this photo illustration taken in Brussels, Belgium, on February 25, 2024. (Photo by Jonathan Raa/NurPhoto via Getty Images)
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The self-proclaimed crypto “Godfather” is facing a robbery charge after being linked to a multi-million dollar Bitcoin heist and a brazen broad daylight kidnapping.
This week, cryptocurrency mogul Adam Iza, 25, pleaded guilty to conspiracy to interfere with commerce by robbery. Iza, also known as Ahmed Faiq, who authorities say calls himself “The Godfather”, is facing 14 years in federal prison when he is sentenced.
The Bitcoin heist
The backstory:
In 2024, a Connecticut man, Veer Chetal, was one of three men charged in an elaborate online scam to steal cryptocurrency from a Washington, D.C. resident. According to court documents, the trio impersonated Google technical support staff to steal 4,100 Bitcoin, worth $245 million from a cryptocurrency exchange.
The three men would go on to spend millions of dollars on cars, clothes, jewelry, mansions and nightclub parties before they were arrested. Prosecutors say Chetal pleaded guilty, only to testify against the other two.
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The kidnapping plot
The backstory:
Chatel rose on the radar of Iza and a co-conspirator, James Schwab, after a fight at a Miami nightclub, according to an FBI affidavit. Schwab and Iza then hatched a plan to kidnap Chetal’s parents and use them as ransom to get some of the stolen money Chatel got from the crypto robbery.
What we know:
Court records say that Iza, his brother Saif Faiq, and Schwab, recruited six Florida men to travel to Connecticut for the abduction plot. They paid for their travel and lodging and had the group surveil Chetal’s parents for hours.
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Sushil and Radhika Chetal were driving in their Lamborghini SUV when they were rear-ended and the kidnappers, driving a white van, pulled in front of them, got out and surrounded them. Police say the men pulled the Chetals out of their car, beat Sushil with a bat and dragged Radhika by her hair and forced them into the van, bounding them with duct tape before driving off.
People who witnessed the kidnapping called police immediately, who spotted the van shortly thereafter. Running from authorities, the van crashed in the chase and four of the kidnappers were arrested after a brief foot pursuit. The two others were later arrested at a home the group rented.
The Chetals were taken to the hospital and later released. Their son Veer would plead guilty of his part in the Bitcoin heist. He has agreed to testify against his co-defendants, according to court documents. Iza was also arrested and charged for his part in the Connecticut case.
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The crypto ‘Godfather’
Iza was already under investigation in his home state of California for extortion, according to court records. While living in a Bel Air mansion, running a crypto trading company, he stole millions of dollars, funneling it through shell companies, prosecutors say. He lived extravagantly, spending on luxury cars, cosmetic surgery and $100,000 a month for private security run by a Los Angeles County sheriff’s deputy who employed other deputies.
Authorities say Iza hired off-duty deputies to extort and intimidate people he had personal and business disputes with, setting them up for arrests and abuse. Authorities say the deputies used law enforcement databases and obtained search warrants under false pretenses to get information on Iza’s enemies.
Iza also admitted to stealing more than $37 million by accessing the lines of credit of business manager accounts from Facebook.
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