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The former girlfriend of cryptocurrency entrepreneur Adam ‘The Godfather’ Iza, Iris Ramaya Au, has admitted to failing to report $2.6 million in income tied to Iza’s illegal operations, which led to federal tax charges.
Between 2020 and 2023, Au managed and spent funds that were allegedly obtained through fraud. She used shell companies to move money and funded an extravagant lifestyle, which included expensive cars, real estate, and cryptocurrency investments.
Prosecutors claim she knowingly withdrew large sums into her personal accounts without reporting them to tax authorities.
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Her plea deal acknowledges her role in handling the funds, and she now faces a possible three-year prison sentence. As part of the agreement, she has agreed to cooperate with investigators, which could influence her sentencing.
With Au’s cooperation, prosecutors continue to expose the full extent of Iza’s network. He is scheduled to be sentenced on June 16, with Au expected to receive her sentence later this year.
Iza, who was arrested in September 2024, has been accused of multiple financial crimes, including wire fraud and tax evasion. Prosecutors say his schemes went beyond digital finance, pointing to his role in defrauding Meta of $37 million by exploiting Facebook’s advertising system through his crypto platform, Zort.
In January, Iza pleaded guilty to fraud, conspiracy, and tax-related charges. If convicted, he could serve up to 35 years in prison.
Meanwhile, on February 20, a former payroll manager at WeChain, Ho Kai Xin, was sentenced to nine years and 11 months in prison. What happened? Read the full story.
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.
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