Iris Rabaya Au was sentenced to 18 months in federal prison for willfully failing to report over $2.6 million in illegal income derived from cryptocurrency fraud schemes. The U.S. Attorney's Office for the Central District of California confirmed that Au concealed funds generated through her association with Adam Iza, a convicted crypto fraudster known as "The Godfather."
Between 2020 and 2023, Au established shell companies and bank accounts to launder proceeds from Iza’s fraudulent Meta advertising operations, using the funds to purchase luxury real estate, vehicles, jewelry, and approximately $16 million in cryptocurrency. In addition to her prison term, the court ordered Au to pay $1.48 million in restitution and forfeit multiple sports cars and designer assets. Iza is currently serving a 15-year sentence for an unrelated Bitcoin robbery and kidnapping case and faces sentencing on October 5 for his role in the fraud scheme.
California Woman Sentenced to 18 Months for Hiding $2.6M in Crypto Crime Income
Disclaimer: The content provided on Phemex News is for informational purposes only. We do not guarantee the quality, accuracy, or completeness of the information sourced from third-party articles. The content on this page does not constitute financial or investment advice. We strongly encourage you to conduct you own research and consult with a qualified financial advisor before making any investment decisions.
