Ex-LA Deputy Admits to Extortion with ‘Crypto Godfather’
- Michael David Coberg, a former Los Angeles County Sheriff’s deputy, pleaded guilty to conspiracy to commit extortion and conspiracy against rights.
- Coberg worked with Adam Iza, a fraudulent crypto entrepreneur who ran the now-defunct trading platform Zort.
- The scheme involved armed extortion and systematic abuse of police authority, including false arrests and intimidation.
- Coberg is scheduled for sentencing on February 17, 2026, facing up to a maximum of 20 years in federal prison for extortion.
- Iza acquired $16 million in cryptocurrency through fraudulent means and spent $10 million on luxury items.
Michael David Coberg’s guilty plea highlights the misuse of law enforcement power in facilitating crypto-related crimes. His collaboration with Adam Iza involved coercive tactics that extended beyond typical fraud schemes.
This case underscores the potential for corruption when public authority is exploited for private gain, as demonstrated by Coberg’s actions leading to significant financial crimes in the crypto sector. (Source)
