Crypto Godfather’s Ex-Girlfriend Admits to $2.6M Tax Fraud

Crypto Crime Unveiled: Ex-Girlfriend’s Tax Admission

In a surprising turn of events, Iris Ramaya Au, the former girlfriend of Adam Iza, often called the crypto “Godfather,” has agreed to plead guilty to a federal tax charge. This is a significant step in the ongoing story of cryptocurrency-related crimes. Adam 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.

Adam Iza’s Schemes

Adam Iza, the self-proclaimed crypto “Godfather,” planned and executed a complex web of financial frauds. Between 2020 and 2024, he illegally accessed advertising accounts and lines of credit from big tech companies like Facebook Inc. and Meta Platforms Inc. He then sold access to these accounts, making millions of dollars[1][2]. Iza 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 key role in Iza’s operations. At his direction, she created shell corporations and opened bank accounts in their names. These accounts were used to hide and move illicit funds. Au then used this money to buy luxury items, pay for fun activities, and buy cryptocurrency worth millions of dollars[1][2]. Notably, Au admitted to transferring over $2.6 million from these accounts to her personal bank accounts between 2020 and 2023. However, she did not report this income to the IRS[1][2].

Legal Consequences

Au’s guilty plea to the felony charge of subscribing to a false tax return could lead to up to three years in federal prison[1][2]. Meanwhile, Iza faces a more severe 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 from the Case

The case of Iris Ramaya Au and Adam Iza shows the complexities and risks of cryptocurrency and financial fraud. It reminds us of the importance of being transparent and following tax laws. It also shows the serious consequences of getting involved in illegal activities. As the legal process continues, this story serves as a warning for those in the crypto world.

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Sources:
– lawfuel.com
– mynewsla.com
– panewslab.com
– binance.com