Crypto Fraudster Godfather Sentenced for $37 Million Meta Scam
Adam Iza, who called himself the “Godfather”, was sentenced to 78 months in prison and ordered to pay $23.4 million in restitution for his role in a $37 million Meta advertising fraud. The scheme involved fraudulently accessing Meta business advertising accounts and selling that access to advertising companies. From 2020 to 2022, Iza’s companies received approximately $37 million from these sales, while Meta customers were billed for ads they had not ordered. The company refunded the affected customers, absorbing the loss.
Iza used part of the ill-gotten money to hire off-duty Los Angeles County sheriff’s deputies for personal security. From August 2021 to April 2022, he conspired with these deputies to obtain confidential information, search warrants, and intimidate his adversaries. Five former deputies involved in the scheme have been convicted of federal crimes, including helping Iza extort rivals and arranging sham arrests.
In addition to the prison sentence, Iza is already serving a 15-year federal term for an attempted bitcoin robbery in Connecticut. The new 78-month sentence will run concurrently with the existing sentence. Iza also pleaded guilty to conspiracy against rights, wire fraud, and tax evasion. Prosecutors noted that his conduct included concealing ownership of a cryptocurrency trading company and evading taxes by transferring corporate income to cryptocurrency custodians.
The case highlights the misuse of law enforcement powers for private disputes, a stark example of how financial fraud can corrupt public trust.