California Crypto 'Godfather' Pleads Guilty in Connecticut Kidnapping Linked to $245M Bitcoin Heist

A California cryptocurrency mogul who called himself "The Godfather" has pleaded guilty to orchestrating a brazen kidnapping in Connecticut that was tied to a $245 million Bitcoin heist. Adam Iza, 25, of Los Angeles, admitted to conspiracy to interfere with commerce by robbery on Monday, June 1, 2026, in federal court.

Prosecutors are seeking at least 14 years in prison.

The case began on August 25, 2024, when Sushil and Radhika Chetal were driving their Lamborghini SUV near Danbury High School in Connecticut. A car rear-ended them, and a white van blocked their path.

Several men pulled the couple from the vehicle, beat Sushil Chetal with a baseball bat, dragged Radhika Chetal by her hair, bound them with duct tape, and forced them into the van. Witnesses, including an off-duty FBI agent, called police.

Officers spotted the van, chased it, and arrested six men from Florida after a crash. The Chetals were hospitalized and later released.

The kidnapping was linked to a $245 million Bitcoin heist the month before, in which the Chetals' son, Veer Chetal, and two accomplices impersonated Google and cryptocurrency exchange support staff to steal 4,100 Bitcoins from a Washington, D.C., resident. Veer Chetal pleaded guilty in November 2024 and awaits sentencing.

The other two men have pleaded not guilty.

According to an FBI affidavit, the plot began after a nightclub fight in Miami between one of Iza's co-conspirators, James Schwab, and Veer Chetal. Schwab then told an acquaintance to rob Chetal and his friends at their Miami rental home.

It is unclear if that robbery occurred. Iza and Schwab later devised the plan to kidnap Chetal's parents to get a share of the stolen Bitcoin.

Schwab and Iza's brother, Saif Faiq, have also been charged and pleaded not guilty.

Before his arrest in the Connecticut case, Iza was under investigation in California for extortion. He lived in a Bel Air mansion, ran a crypto trading company called Zort, and paid off-duty Los Angeles County sheriff's deputies about $100,000 a month for personal protection and to act as enforcers against his enemies.

Prosecutors said he used deputies to intimidate victims, set people up for arrest, and abuse the legal process. In one instance, two deputies held a victim at gunpoint in Iza's home, forcing a $25,000 transfer.

Iza also admitted to stealing more than $37 million from Meta Platforms by fraudulently accessing their business accounts and lines of credit from 2020 to 2022. He pleaded guilty in January 2026 to wire fraud, conspiracy against rights, and tax evasion in that case.

Iza's lawyer in the Connecticut case, William Paetzold, did not respond to requests for comment. His California attorney, Josef Sadat, declined to comment.

The six men involved in the kidnapping have pleaded guilty; two have been sentenced to 11 years in prison, and the others await sentencing.