Self-styled 'Godfather' gets 6 years in prison for $37 million Meta fraud scheme
A man known as the 'Godfather' has been sentenced to six years in prison for a $37 million fraud scheme involving the unauthorized use of Meta Business Manager accounts. The defendant also faced charges for tax evasion and hiring off-duty law enforcement officers to harass his rivals.
Why it matters
This case highlights the growing intersection of traditional financial fraud and cryptocurrency, demonstrating how bad actors exploit digital platforms and crypto custodians to launder illicit proceeds.
Iza was also found guilty of evading taxes and using off-duty Los Angeles County sheriff’s deputies to intimidate people he viewed as rivals, the statement added.
U.S. District Judge Percy Anderson also ordered Iza to pay $23.4 million in restitution.
Iza pleaded guilty in January 2025 to conspiracy against rights, wire fraud and one count of tax evasion. The sentence runs concurrently with the 15-year prison term he received last month in Connecticut for his role in an attempted bitcoin robbery in August 2024.
Prosecutors said Iza gained access to Meta Business Manager accounts and associated credit lines, then sold that access to advertising companies. The Facebook parent company billed clients for ads they did not buy, then refunded them.
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