DANBURY — Authorities have indicted three men for their involvement in a violent kidnapping that reportedly took place in 2024, which is now being linked to a massive theft involving $245 million in cryptocurrency, according to federal prosecutors.
The individuals charged include Georgia’s James Schwab (22), Adam Iza (25) from California, and Missouri’s Saif Faiq (22). This news was publicly announced via a statement from David Sullivan, U.S. Attorney for the District of Connecticut.
On October 28, a federal grand jury issued an updated indictment regarding their case. Each of the three faces charges for conspiracy to commit kidnapping and conspiracy to obstruct commerce through robbery.
Police outlined details of the shocking incident that happened on August 25. A couple from Danbury, who were out looking at potential new homes in their sleek blue Lamborghini Urus, were suddenly rammed from behind by another vehicle. Masked assailants emerged and attacked the couple with baseball bats before kidnapping them and tossing them into a van. Quick thinking witnesses contacted the authorities, leading to the discovery of the couple bound with duct tape on Cowperthwaite Street.
After their rescue, the victims were hospitalized and shared their belief with investigators that they had been targeted because of their luxury vehicle.
However, investigators later uncovered that the kidnapping was an elaborate ransom plot stemming from the alleged involvement of the couple’s son in a major cryptocurrency scam that resulted in over 4,000 Bitcoin being swindled from a Washington resident.
Sullivan revealed that James Schwab actually organized the kidnapping following a brawl he had with the couple’s son, Veer Chetal, during a night out in Miami back in July 2024. Schwab was said to have been in touch with the assailants before the kidnapping took place, securing funding and coordinating logistical details.
As for Adam Iza, he was noted to be communicating with the kidnappers via encrypted messages and providing funds and direction for the operation. Meanwhile, Saif Faiq took on the task of recruiting additional participants and even traveled to Connecticut, where he helped plan the abduction and kept an eye on the intended victims.
James Schwab was arrested on January 29 and has since been released on a $1.5 million secured bond while awaiting trial. Adam Iza was detained on September 24, and Saif Faiq was arrested on November 12, with both remaining in custody.
Investigators have already identified other individuals involved in this botched kidnapping; those remaining suspects include Angel Borrero (23), Reynaldo Diaz (22), Anthony Pena (23), Josue Romero (26), Ricardo Estrada (21), and Michael Rivas (18). Reports indicate that each of these individuals has pleaded guilty to various charges related to the carjacking and kidnapping.
Moreover, Veer Chetal, son of the kidnapped couple, has already pleaded guilty over the summer to charges of fraud and money laundering arising from this complex multi-million dollar crypto theft.
