Former LASD Deputy Pleads Guilty in Crypto-Fraud Conspiracy Linked to ’Crypto Godfather’

A former Los Angeles County Sheriff's Department deputy and helicopter pilot has admitted to federal conspiracy charges, facing up to 30 years imprisonment for his role in Adam Iza's fraudulent cryptocurrency operations. The self-proclaimed 'Crypto Godfather' remains in custody awaiting December sentencing.

The deputy, Coberg, allegedly received $20,000 monthly from Iza to weaponize his law enforcement credentials. Their collaboration included intimidation tactics against Iza's business rivals—one victim was abducted at gunpoint and coerced into transferring $127,000 to Iza-controlled accounts. Another incident involved a staged arrest to lure a Miami-based target.

This case underscores the persistent regulatory risks in crypto markets, where bad actors exploit both institutional trust gaps and the sector's pseudonymous nature. The DOJ's continued prosecution of such schemes signals tightening oversight as adoption grows.