Adam Iza, the California cryptocurrency mogul known as 'The Godfather,' pleaded guilty to orchestrating the brazen kidnapping of a Connecticut couple on Monday, June 1, 2025, according to the U.S. Department of Justice. Federal prosecutors are seeking a 14-year prison term for Iza, who also faces separate charges for hiring corrupt sheriff's deputies as personal enforcers. Iza remains in federal custody as he awaits formal sentencing hearings for both his California financial crimes and his role in the Connecticut kidnapping conspiracy. The case stems from an August 25, 2024 incident where Sushil and Radhika Chetal were rear-ended in their Lamborghini SUV near Danbury High School in Connecticut.
The high-profile abduction was a targeted attempt to seize a portion of a massive $245 million Bitcoin fortune allegedly stolen by the couple's son, according to the U.S. Attorney's Office, District of Connecticut. A group of men forced the couple into a white van, beat Sushil with a baseball bat, and dragged Radhika by her hair before binding them with duct tape, according to court documents. Passersby, including an off-duty FBI agent, witnessed the attack and alerted police. Following a vehicle chase and crash, law enforcement arrested six Florida men hired by Iza to carry out the operation. All six have since pleaded guilty to kidnapping and carjacking offenses. The attack unfolded in Danbury, Connecticut, where the group deliberately rear-ended the couple's Lamborghini Urus before surrounding the vehicle with a van in broad daylight.
The victims were Sushil and Radhika Chetal, parents of Veer Chetal, who himself had just participated in a sophisticated social-engineering scam to steal about 4,100 bitcoins worth $245 million at the time from a Washington, D.C., resident. Along with two accomplices, Chetal impersonated Google and crypto exchange technical support to steal the funds. Prosecutors said he later displayed the proceeds publicly, including during visits to a Miami nightclub, where he came into contact with one of Iza's alleged co-conspirators. Veer Chetal pleaded guilty to the theft charges connected to the bitcoin theft in November 2025 and is awaiting sentencing. It remains unclear exactly how Iza and his co-conspirators initially discovered that Veer Chetal was behind the massive Bitcoin heist.
Saif Faiq, one of the organizers of the kidnapping scheme, has pleaded guilty to a conspiracy charge in a Hartford, CT federal court on June 9, 2025, according to the U.S. Department of Justice. He faces up to 20 years in prison and is scheduled to be sentenced on August 28. Faiq's brother, Adam Iza, also pleaded guilty to conspiracy to interfere with commerce by robbery on June 1, 2025. Both brothers admitted their roles in organizing the kidnapping operation, with court filings showing their cooperation in the criminal scheme. The case represents a significant enforcement action by federal authorities against organized crime targeting cryptocurrency wealth.
Prior to the kidnapping plot, Adam Iza lived in a Bel Air mansion operating a crypto company named Zort, where he illegally acquired tens of millions of dollars, according to federal officials. He spent his wealth on luxury cars, shell companies, and cosmetic leg-lengthening surgery. Iza also paid a private security firm $100,000 a month to utilize off-duty Los Angeles County sheriff's deputies to intimidate, extort, and falsely arrest his business and personal rivals. In January 2025, Iza pleaded guilty in California to wire fraud, tax evasion, and conspiracy against rights. Several Los Angeles County sheriff's deputies implicated in Iza's extortion ring face ongoing criminal prosecution. The two remaining co-defendants from the abduction team have already been sentenced to 11 years in prison.
