A former Los Angeles County sheriff’s deputy, Eric Chase Saavedra, has been sentenced to 21 months in federal prison for abusing his position to benefit cryptocurrency businessman Adam Iza. S
A former Los Angeles County sheriff’s deputy, Eric Chase Saavedra, has been sentenced to 21 months in federal prison for abusing his position to benefit cryptocurrency businessman Adam Iza. Saavedra is the last of five ex-deputies to be sentenced in a scheme involving official misconduct, intimidation, and financial crimes.
Saavedra, 42, of Chino, previously worked in the anti-gang unit of the Los Angeles County Sheriff’s Department and served as a federal task-force officer with the U.S. Marshals Service. While holding these positions, Saavedra established Saavedra & Associates LLC, a private security firm that employed active deputies and law enforcement officers for high-profile clients.
Adam Iza, known as a cryptocurrency entrepreneur with residences in Beverly Hills and Newport Beach, became the firm’s primary client. Between August 2021 and March 2022, and again from July 2024 until his arrest in September, Iza reportedly paid approximately $100,000 per month for a continuous security detail through the company.
Saavedra’s plea agreement confirmed that he recruited 20 to 25 deputies for the security operation, each receiving about $750 per shift. Prosecutors reported that Saavedra misused his sheriff’s credentials to access confidential law enforcement databases, seeking information on individuals with whom Iza had disputes, as well as their associates and relatives.
In one notable case, Saavedra applied for a search warrant in January 2022, submitting false information to a Los Angeles Superior Court judge by linking a target’s phone number to a firearms suspect. The warrant helped identify a residence that was later targeted by three armed men hired by Iza in an attempt to retrieve a laptop believed to contain more than $100 million in cryptocurrency.
Saavedra pleaded guilty in February 2025 to one count of conspiracy against rights. He also admitted to receiving $373,146 in unreported payments from Iza. As part of his plea deal, he forfeited luxury items including 32 Louis Vuitton bags, 27 pairs of Gucci shoes, five Louis Vuitton wallets, and a money-counting machine.
Saavedra’s sentence included a restitution payment of $90,984 to the IRS, with the judge citing his “prompt and extensive cooperation” as a factor in the relatively shorter term.
Mini dictionary: Adam Iza, a cryptocurrency businessman, faced multiple federal charges including attempted Bitcoin robbery, kidnapping, wire fraud, and tax evasion. He became a key client of Saavedra’s security firm, which played a role in the alleged criminal network.
Four other former sheriff’s deputies involved in the scheme have already received federal prison terms, ranging from one year to more than five years. Michael David Coberg is serving 63 months, Scott Allen Simpkins was sentenced to 18 months, Christopher Michael Cadman received 21 months, and David Anthony Rodriguez is serving 12 months.
Name Sentence (months) Eric Chase Saavedra 21 Michael David Coberg 63 Scott Allen Simpkins 18 Christopher Michael Cadman 21 David Anthony Rodriguez 12Adam Iza, now 26, has been in federal custody since his September 2024 arrest. In January 2025, he pleaded guilty to conspiracy against rights, wire fraud, and tax evasion. Iza is currently serving a 15-year sentence for attempted Bitcoin robbery and kidnapping near Danbury, Connecticut. His California sentencing before Judge Anderson is set for October 5.
Investigations revealed that Iza’s use of official law enforcement resources, arranged by Saavedra and other deputies, enabled actions including targeted surveillance and intimidation during their criminal partnership.
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