Key Highlights
Saif Faiq pleaded guilty in Hartford federal court to conspiracy to interfere with commerce by robbery and faces a maximum of 20 years in prison, with sentencing scheduled for August 28.
Faiq recruited six men from Florida, organized their travel to Connecticut, and helped plan a home invasion after surveilling the targets, who were the parents of a young crypto figure tied to a separate 4,100-bitcoin theft.
Faiq's brother and co-organizer Adam Iza pleaded guilty on June 1 and faces the same maximum sentence, with his sentencing set for August 12.
Saif Faiq, one of the organizers behind a violent bitcoin extortion scheme that included a kidnapping and carjacking in Connecticut, pleaded guilty in Hartford federal court to conspiracy to interfere with commerce by robbery. He faces a maximum sentence of 20 years in prison and is scheduled to be sentenced on August 28. His brother and co-organizer Adam Iza entered the same guilty plea on June 1, with his sentencing set for August 12.
The scheme targeted Sushil and Radhika Chetal, the parents of Veer Chetal, a young crypto figure who had himself been implicated in a sophisticated social-engineering operation that resulted in the theft of approximately 4,100 bitcoin. Faiq and Iza identified the Chetals as targets and organized a crew of six men from Florida, coordinating their travel to Connecticut, funding their preparations, and directing surveillance of the victims ahead of the attack.
The crew carjacked the couple's Lamborghini Urus, beat them, and briefly detained them in what prosecutors described as a brazen attempt to use physical violence to extract access to crypto holdings. The Justice Department characterized the operation as a coordinated conspiracy combining surveillance, interstate travel, vehicle theft, and physical assault, all aimed at coercing a crypto transfer.
The case reflects a broader surge in crypto-targeted physical crime that has intensified alongside rising digital asset prices. As bitcoin and other assets have reached new highs in 2025 and 2026, known holders and their families have become targets for criminals who view physical coercion as a direct route to wallets that cannot be frozen or reversed. Law enforcement agencies across multiple jurisdictions have escalated prosecutions of crypto-related violent crime, with the DOJ treating such cases as priority matters under its digital asset enforcement mandate.
