CoinDesk
Adam Iza, 26, was sentenced to 78 months in federal prison for defrauding Meta of more than $37 million, evading taxes and using off-duty Los Angeles County sheriff’s deputies to intimidate rivals. A judge ordered him to pay $23.4 million in restitution.
Prosecutors said Iza gained access to Meta Business Manager accounts and credit lines, then sold that access to advertising companies. Meta billed clients for ads they had not bought before issuing refunds. Iza received at least $36.4 million from the scheme, which caused an estimated $13.3 million tax loss.
The sentence will run concurrently with a 15-year prison term imposed last month for Iza’s role in an attempted Bitcoin robbery. Iza also admitted moving corporate income tied to the fraud to crypto custodians while concealing his ownership of a company called Zort.
Between 2021 and 2022, prosecutors said, Iza hired off-duty deputies to obtain confidential law-enforcement information, personal data and search warrants to track and harass people with whom he had disputes. The five former deputies involved have since been convicted.
Frequently asked questions
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How much restitution was Adam Iza ordered to pay?
A judge ordered Iza to pay $23.4 million in restitution.
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How did prosecutors say Iza defrauded Meta?
Prosecutors said he accessed Meta Business Manager accounts and credit lines, then sold that access to advertising companies. Clients were billed for ads they had not bought before refunds were issued.
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What tax loss did prosecutors attribute to the scheme?
Prosecutors estimated the scheme caused a $13.3 million tax loss. They said Iza received at least $36.4 million in income from it.
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How does the Meta fraud sentence relate to Iza’s Bitcoin robbery sentence?
The 78-month sentence will run concurrently with a 15-year prison term imposed last month for Iza’s role in an attempted Bitcoin robbery.
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What role did crypto custodians play in the case?
Prosecutors said Iza moved corporate income tied to the fraud to crypto custodians while concealing his ownership of a company called Zort.
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