TLDR
- Iris Ramaya Au, once romantically linked with crypto \"Kingpin\" Adam Iza, has confessed to charges related to fraudulent tax declarations, neglecting to report more than $2.6 million in ill-gotten revenue.
- Under the directives of Iza, Au set up fraudulent companies and financial institutions to aid in his unlawful operations between 2020 and 2023.
- Iza has owned up to conspiring, committing wire fraud, and evading taxes in connection with deceptive advertising accounts on Meta, among other deceitful strategies.
- Their illicit earnings allowed them to lead an opulent lifestyle, with expenditures encompassing bribes, lavish goods, and the acquisition of nearly $16 million in digital currency.
- Iza might be looking at a maximum of 35 years behind bars, with sentencing set for June 16, and Au could be serving up to 3 years.
Iris Ramaya Au, the former flame of self-styled crypto \"Kingpin\" Adam Iza at the age of 35, has owned up to federal charges concerning inaccurate tax declarations.
The U.S. Department of Justice declared on March 5 that Au admitted to submitting deceptive tax forms, omitting the declaration of over $2.6 million crafted from her former partner’s illicit operations.
The intricate case hinges on a convoluted network of financial misdeeds that unfolded from 2020 to 2024. As outlined in court filings, Au was central to Iza’s felonious dealings by establishing front companies and initiating bank accounts under those corporations at his insistence.
Across the years 2020 to 2023, Au conducted over $2.6 million in transfers from these accounts to her personal account, yet she resisted declaring this income to tax officials despite her understanding of its unlawful origins.
This unholy gain supported a life of excessive luxury where the couple used it to dispense roughly $1 million in bribes to officers in the Los Angeles County and splurge on high-end real estate, automobiles, jewelry, and designer wear.
Prosecutors revealed that nearly $10 million was frivolously spent on \"leisurely pursuits\" by Au and Iza using the fraudulently obtained funds. Additionally, they purchased approximately $16 million worth of cryptocurrency with the illegitimate income.
Conspiracy, Wire Fraud & Tax Evasion
Iza, at 24, found himself captured in September 2024, confronting allegations of conspiracy, engaging in wire fraud, and tax evasion. Come January, he pleaded guilty to these charges , acknowledged his participation in a slew of unlawful enterprises.
A pivotal operation of Iza's involved deceitfully acquiring Facebook and Meta advertising profiles, subsequently vending their access, and swindling Meta of close to $37 million.
Beyond fiscal trickery, Iza purportedly impersonated federal agents in 2018 to seize cryptocurrency at gunpoint, holding partners hostage to extract necessary credentials for accessing digital wallets.
Home Invasion
Authorities indicate Iza attempted burglary in 2022 to confiscate crypto holdings, marking a disturbingly violent uptick in crypto-related illegalities.
Of significant concern, however, was Iza's manipulation of law enforcement, admitting to bribery of out-of-duty sheriffs in Los Angeles County to extend unauthorized protection and intimidate business opposers.
These compromised officers allegedly facilitated the procurement of search permits and confidential intel focused on individuals Iza clashed with on financial or personal fronts. One officer, Eric Chase Saavedra, faces distinct charges for leveraging his office to aid Iza.
Iza also spearheaded the launch of Zort, a cryptocurrency exchange anticipated by authorities to be a cloak for far-reaching fraud schemes, although explicit details involving Zort weren’t extensively stated in the circulated report.
The repercussions for the duo are stark. Au risks serving up to three years in federal confinement for her tax infractions, while Iza faces a significantly harsher punishment with a potential 35-year sentence hanging over his head.
Iza stands to be sentenced on June 16. Scheduled sentencing for Au is predicted for a similar timeframe, as per court documentation, with her commitment to assisting authorities in their ongoing examination.
