Crypto “Godfather” Saga: A Closer Look
Imagine this: a couple, Adam Iza and Iris Ramaya Au, are at the center of a huge scandal in the world of cryptocurrency. Adam, known as the “crypto Godfather,” and Iris have been up to some shady business. Let’s find out what happened.
Their Crimes and Charges
Adam, the so-called “crypto Godfather,” was involved in some serious fraud. He hacked into advertising accounts of big tech companies like Facebook and Meta, then sold access to these accounts. He made millions of dollars this way, but he didn’t tell the government about this money. That’s called tax evasion!
Iris, Adam’s ex-girlfriend, helped him with these illegal activities. She created fake companies and opened bank accounts in their names. They used these accounts to hide and spend their illegal money. They even paid over $1 million to some police officers for private security services!
In January, Adam admitted he was guilty of conspiracy, wire fraud, and tax evasion. Now, Iris has agreed to say she’s guilty too.
Iris’s Tax Charge and Plea Agreement
Iris has agreed to plead guilty to a serious crime called “subscribing to a false tax return.” This means she didn’t tell the government about over $2.6 million she got from the fake companies’ accounts between 2020 and 2023. She could spend up to three years in prison for this.
Legal and Financial Lessons
This case shows us that the government takes financial crimes very seriously, especially when they involve cryptocurrency. It also teaches us about the risks of hiding money and using cryptocurrency for illegal activities.
What We Can Learn
The story of Adam and Iris reminds us that it’s important to be honest about our money and follow the rules. If we don’t, we could face serious consequences, like going to prison. As the world of cryptocurrency grows, we need more rules and oversight to stop crimes like these in the future.
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Sources:
– mynewsla.com
– panewslab.com
– binance.com
– advfn.com