Crypto Crime Unveiled: Ex-Girlfriend’s Tax Admission
In a surprising turn of events, Iris Ramaya Au, the former girlfriend of Adam Iza, known as the crypto “Godfather,” has agreed to plead guilty to a federal tax charge. This is a significant development in the ongoing story of cryptocurrency-related crimes. Iza, who has been involved in various illegal activities like fraud and tax evasion, has already pleaded guilty to federal charges[1][2]. Let’s dive into the details of this case and understand the roles played by both Au and Iza in these financial crimes.
The “Godfather’s” Schemes
Adam Iza, the self-proclaimed crypto “Godfather,” was behind a complex web of financial frauds. Between 2020 and 2024, he fraudulently accessed advertising accounts and lines of credit from Facebook Inc. and Meta Platforms Inc., making millions by selling access to these accounts[1][2]. Not only that, but he also hired active Los Angeles County Sheriff’s Department deputies to provide private security. He used them to get court-authorized search warrants and confidential law enforcement information against people he had financial and personal disputes with[1][2].
Iris Ramaya Au’s Role
Iris Ramaya Au played a crucial part in Iza’s operations. At his direction, she created shell corporations and opened bank accounts in their names. These accounts were used to hide illicit funds, which Au then used to buy luxury items, pay for fun activities, and even buy millions of dollars’ worth of cryptocurrency[1][2]. Notably, Au admitted to transferring over $2.6 million from these accounts to her personal bank accounts between 2020 and 2023, income she didn’t report to the IRS[1][2].
Facing the Law
Au’s guilty plea to the felony charge of subscribing to a false tax return could mean up to three years in federal prison[1][2]. Meanwhile, Iza faces a much longer sentence, potentially up to 35 years, after pleading guilty to conspiracy against rights, wire fraud, and tax evasion[1][2]. His sentencing is scheduled for June 2025[1].
Lessons Learned
The case of Iris Ramaya Au and Adam Iza shows us the dangers and risks of cryptocurrency and financial fraud. It reminds us how important it is to be transparent and follow tax laws, and the serious consequences of breaking the law. As the legal process continues, this story serves as a warning to those involved in the crypto world.
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Sources:
– lawfuel.com
– mynewsla.com
– panewslab.com
– binance.com