Key Insights: In today’s crypto news, a man admitted to misusing police databases for Adam Iza’s interests. The former deputy failed to report more than $373,000 in income. Multiple former LA
Crypto news today covered an incident where former Los Angeles County Sheriff’s Department (LASD) deputy Eric Chase Saavedra received a 21-month federal prison sentence. Saavedra was sentenced after admitting that he abused his law enforcement position while working with cryptocurrency businessman Adam Iza.
United States District Judge Percy Anderson issued the sentence and ordered Saavedra to pay $90,984 in restitution. Saavedra, 42, of Chino, previously served as an LASD detective and a federal task-force officer.
Saavedra pleaded guilty in February 2025 to conspiracy against rights and false subscription to a tax return. As part of his plea agreement, he agreed to forfeit items purchased during the alleged conspiracy.
The forfeited property included 32 Louis Vuitton bags, 27 pairs of Gucci shoes, 5 Louis Vuitton wallets, and a money-counting machine. The case has sparked a heated debate in the crypto market as it is tied to a crypto entrepreneur and alleged financial crimes.
Court documents identified Adam Iza as a self-described cryptocurrency businessman who hired off-duty LASD deputies. Prosecutors said Iza used the deputies as personal enforcers against individuals involved in disputes with him.
Sentencing Press Release | Source: Justice.gov
Saavedra was among the deputies connected to Iza. At the time, he worked with LASD’s Operation Safe Streets Bureau and served as a federal task-force officer assigned to the U.S. Marshals Service’s Pacific Southwest Regional Fugitive Task Force.
Meanwhile, Saavedra operated Saavedra & Associates LLC, a private security company. The company provided security services and often employed active LASD deputies and other law enforcement officers.
From August 2021 to March 2022, Iza hired the company for continuous security services at a reported cost of about $100,000 per month. He was later hired by the company again from July 2024 until his arrest in September 2024.
According to court records, Saavedra used his LASD credentials to access restricted databases. He obtained personal information connected to people involved in Iza’s personal and business disputes.
Saavedra knew the access was not authorized for private matters. However, prosecutors said he used the information to support Iza and maintain business relationships.
The investigation found that Saavedra also helped obtain court-authorized search warrants involving individuals linked to Iza’s disputes. Prosecutors said one warrant application contained false information.
The case involved a victim whom Iza believed controlled a laptop containing more than $100 million in cryptocurrency. Saavedra obtained location information linked to the victim’s phone and shared the address with Iza.
Later, three armed individuals attempted to enter the victim’s home in March 2022. The individuals left after the victim fired a gunshot toward them, according to court documents.
Additionally, Saavedra admitted receiving about $373,146 in unreported income from Iza. He also admitted to submitting a false tax return for 2021.
The FBI and IRS Criminal Investigation handled the investigation with assistance from the Los Angeles County Sheriff’s Department. The case resulted in sentences for several former LASD deputies.
Michael David Coberg received a 63-month federal prison sentence for helping Iza with extortion-related activity. Scott Allen Simpkins received 18 months’ imprisonment for obstructing a federal investigation.
David Anthony Rodriguez received a one-year prison sentence for submitting a false search warrant application. Christopher Michael Cadman received 21 months for related civil rights and tax offenses.
Crypto news also covered a separate case involving Iain Doyle, 37, in Scotland. Doyle faced charges linked to an attempted robbery targeting cryptocurrency assets.
Doyle and Sean Favier traveled to a home in Bonnyrigg, Midlothian, wearing dark clothing. Prosecutors said the pair attempted to carry out a robbery involving digital assets.
However, the attempt ended after they approached the property and noticed a Ring Doorbell camera. They then left the location without completing the planned action.
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