Cryptocurrency Theft Fuels Kidnapping Plot: Three Men Face Federal Charges
DANBURY, CT – A federal investigation into a brazen kidnapping in Danbury, connecticut, has expanded with charges against three men from across the country, alleging a conspiracy rooted in a dispute over stolen cryptocurrency. Authorities believe the August 2024 incident was a targeted act connected too the alleged theft of a significant amount of digital currency.
Adam Iza, 25, of california, and Saif Faiq, 22, of St. Louis, Missouri, were recently indicted and join James Schwab, 22, of Peachtree Corners, Georgia, who was initially charged earlier this year. All three now face federal counts of conspiracy to commit kidnapping and conspiracy to interfere with commerce thru robbery,each carrying significant potential penalties.
The case began on August 25th, 2024, when Danbury police responded to a carjacking involving a Lamborghini Urus and the abduction of its two occupants. Investigators quickly determined the victims were the parents of an individual suspected of being involved in the theft of hundreds of millions of dollars worth of cryptocurrency.
According to court filings, prosecutors allege that Schwab, Iza, and Faiq were central figures in orchestrating the kidnapping plot. The investigation revealed a prior connection between Schwab and the victims’ son, stemming from a physical altercation at a Miami nightclub in July 2024. Following the incident, Schwab allegedly maintained contact with individuals involved in the kidnapping, providing financial support and coordinating travel arrangements.
Authorities claim Iza played a key logistical role, utilizing encrypted dialogue channels and cellphones to direct operations and contribute funding. faiq is accused of actively recruiting participants, traveling to Connecticut to scout the victims’ home for a potential invasion, and working in concert with Iza to conduct surveillance.
As of today,Schwab has been released on a $1.5 million secured bond following his arrest on January 29th. Faiq remains in custody awaiting arraignment in Connecticut after his arrest on November 12th. Iza is currently being held in California on unrelated federal charges dating back to September 2024.
The kidnapping conspiracy charge carries a potential sentence of life in prison, while the robbery conspiracy charge carries a maximum penalty of 20 years. Six individuals previously charged in connection with the carjacking and kidnapping have already entered guilty pleas.
U.S. Attorney David X.Sullivan emphasized that the indictment represents allegations, and all defendants are presumed innocent until proven guilty in a court of law.
The investigation is being conducted by multiple FBI field offices, alongside the Danbury Police Department, with support from various state and local law enforcement agencies.
