Zort, the founder of the encryption trading platform, and a former Los Angeles police officer pleaded guilty to charges of conspiracy and tax evasion.

According to the documents from the Department of Justice (DOJ), Adam Iza, the founder of the encryption trading platform Zort, and former Los Angeles police officer Eric Chase Saavedra have pleaded guilty to multiple charges, including conspiracy, tax evasion, and civil rights violations. The Ministry of Justice stated that Iza carried out a plan involving fraud, intimidation, and extortion against several victims in the Los Angeles area. His accomplice Saavedra abused law enforcement resources to assist Iza's actions. According to prosecutors, Iza has been in federal detention since September 2024 and faces a maximum sentence of 35 years. Saavedra has resigned from the Los Angeles Police Department and could face a maximum sentence of 13 years. Both will be tried in the Los Angeles federal court. In September last year, the FBI accused the founder of the encryption trading platform Zort of encryption currency fraud and bribery of corrupt law enforcement officials. The FBI stated that Adam Iza, the operator of the encryption currency trading platform Zort, is suspected of paying fees to three assistant sheriffs in Los Angeles to obtain information about robbery targets, and Adam Iza pays the police $280,000 per month. The FBI stated in the accusation that Adam Iza accumulated wealth through shell companies, used the funds for extravagant spending, and concealed tens of millions of dollars in income from 2020 to 2022, without declaring any income tax.