Former Los Angeles Deputy Sheriff Admits to Conspiring with "Crypto King" to Extort

ChainCatcher news, according to Decrypt, the U.S. Attorney's Office has disclosed that former Los Angeles County Deputy Sheriff Michael David Coberg pleaded guilty on September 26 to federal felonies including conspiracy to extort and violation of civil rights.

He used his position to provide illegal protection to Adam Iza, who self-styled himself as the "crypto godfather," receiving at least $20,000 a month in compensation. According to the plea agreement, Coberg abused his law enforcement powers multiple times in 2021: he once threatened a businessman with a gun to transfer $127,000 to Iza and plotted a false drug arrest against another victim. This case exposes gaps in law enforcement oversight, and the Chief Technology Officer of the Komodo platform pointed out that "this case marks a new level of misconduct in cryptocurrency, with law enforcement extending public power beyond its authority." Four law enforcement officers, including Coberg, have pleaded guilty in connection with the case, while the main perpetrator Iza fraudulently obtained $16 million in cryptocurrency, and his ex-girlfriend also pleaded guilty for concealing $2.6 million in illegal proceeds. Coberg faces a maximum sentence of 30 years in prison, with a sentencing hearing scheduled for February 2026.