How a carjacking in Connecticut led back to a man known as the crypto ‘Godfather’ in California

How a Carjacking in Connecticut Led Back to a Man Known as the Crypto ‘Godfather’ in California

How a carjacking in Connecticut led back – In the summer of 2024, a violent incident unfolded on a quiet Connecticut street, where would-be kidnappers seized a couple from their Lamborghini SUV, assaulted them in daylight, and dragged them into a van. The attackers were soon apprehended by police after witnesses, including a passing off-duty FBI agent, alerted authorities. This arrest sparked an investigation that revealed a startling connection: the assault was part of a larger scheme tied to a $245 million Bitcoin heist involving the couple’s son. The case has since become a focal point in the growing intersection of cryptocurrency crime and physical violence.

The Link to the Crypto Heist

According to an FBI affidavit, the abduction attempt was orchestrated by Adam Iza, a California-based cryptocurrency mogul who authorities allege referred to himself as “The Godfather.” Iza, 25, had previously employed off-duty sheriff’s deputies to intimidate rivals, a tactic that now seemed to be repurposed for a more ambitious plan. The motive was clear: to intercept some of the stolen cryptocurrency from his son, Veer Chetal. The son’s theft of 4,100 Bitcoins—a sum valued at around $245 million at the time—had already set off a chain of events that would culminate in the Connecticut crime.

The heist itself was an elaborate online operation that began a month before the abduction. Chetal and two accomplices impersonated Google technical support and a cryptocurrency exchange to siphon funds from a Washington, D.C., resident. The trio celebrated their success by splurging on luxury items, including cars, designer clothes, and rental mansions, before their arrest. Chetal had already pleaded guilty to his role in the theft, awaiting sentencing, while his co-conspirators remained defiant, claiming innocence.

The Abduction Plot

As the stolen Bitcoin flowed into various accounts, Iza and his associate James Schwab devised a plan to seize a portion of the ill-gotten gains. The scheme involved taking Chetal’s parents hostage, a strategy that required coordination and resources. Schwab, who had a falling out with Chetal at a Miami nightclub, reportedly instructed a friend to rob Chetal and his friends at their Miami rental home. Though the robbery’s outcome remains uncertain, the plan to kidnap the parents was solidified.

Three weeks after the Miami incident, the group executed their plan. On August 25, 2024, near Danbury High School, Sushil and Radhika Chetal were rear-ended by a car, setting off a chain of events. A white van then pulled up, and six men—some from Florida—surrounded the couple. They were dragged from the SUV, bound with duct tape, and forced into the van. Sushil was struck with a baseball bat, while Radhika was pulled by her hair. The van fled the scene, but witnesses quickly called police, leading to a pursuit that ended in a crash. Four of the men were arrested on the spot, while the remaining two were later found in a nearby town’s rented home.

Iza’s Criminal Activities

Before this Connecticut case, Iza was already under scrutiny in California for his role in a separate extortion scheme. Federal records indicate he had been investigated for siphoning money and property from victims in Los Angeles and other locations. A month after the kidnapping attempt, he was formally charged in that case and eventually pleaded guilty. The plea came with a promise to cooperate with federal prosecutors, who are seeking a minimum 14-year prison sentence for his involvement in the Connecticut incident.

Iza, who also goes by Ahmed Faiq, was living in a Bel Air mansion when he operated his crypto trading company, Zort. His lavish lifestyle included spending on high-end vehicles and undergoing cosmetic surgery to extend his legs, as detailed in court documents. This opulence, fueled by the cryptocurrency boom, was juxtaposed with his methodical approach to criminal activity. Iza’s network of off-duty enforcers, including his brother Saif Faiq, was instrumental in executing both the Miami robbery and the Connecticut kidnapping.

The Broader Trend of Crypto-Linked Crime

Prosecutors have described the Connecticut case as emblematic of a global trend where cryptocurrency thefts increasingly drive real-world violence. The case underscores how cybercrime can spill into physical confrontations, with perpetrators using intimidation tactics to secure their share of digital wealth. Iza’s ability to command resources and recruit accomplices highlights the growing sophistication of such operations.

James Schwab, another key figure in the case, was charged alongside Iza for his role in planning the abduction. Schwab’s legal team has yet to respond to inquiries about the case, leaving questions about his potential guilt unanswered. Meanwhile, the six Florida-based men who participated in the Connecticut kidnapping have already pleaded guilty, with two sentenced to 11 years in prison. Their cooperation has provided prosecutors with critical evidence, though the broader implications of Iza’s actions remain under scrutiny.

Victims and Aftermath

The Chetals were taken to a hospital after the abduction, where they were released with no serious injuries. Despite the chaos, their ordeal highlighted the risks associated with cryptocurrency crime. The couple’s son, Veer, had been the initial target of the heist, but his parents became collateral in the larger scheme. Their capture was a calculated move to pressure the family into surrendering a portion of the stolen funds.

As the investigation continues, the case serves as a cautionary tale about the intersection of technology and traditional crime. Iza’s dual life as a crypto mogul and a criminal mastermind exemplifies the blurred lines between digital and physical exploitation. With the value of stolen cryptocurrencies soaring, the incentives for violent tactics have grown, making such cases increasingly common in the cryptocurrency era.

Authorities are now examining how Iza’s network of informants and enforcers enabled the abduction, further linking his activities to a web of organized crime. The Connecticut incident, while localized, reflects a broader pattern where cybercrime is weaponized through real-world coercion. As the case unfolds, it may set a precedent for how courts handle crypto-related offenses that involve both digital and physical elements.

With Iza’s guilty plea and the pending sentencing, the focus shifts to the long-term consequences of his actions. The case has already drawn attention to the vulnerabilities of cryptocurrency systems and the potential for organized groups to exploit them. As the global crypto landscape evolves, incidents like this will likely shape how law enforcement addresses the new realities of digital wealth theft.