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Bitcoin Kidnapping Conspirator Saif Faiq Pleads Guilty, Faces Up to 20 Years in Prison

Enforcement Actions

2026-06-09 00:13:20

BTC-0.95%

According to The Block, Saif Faiq, one of the organizers of a 2024 Bitcoin-related kidnapping scheme, pleaded guilty to conspiracy charges on Monday in Connecticut federal court. He faces up to 20 years in prison, with sentencing scheduled for August 28.

Faiq and his brother Adam Iza coordinated the scheme to kidnap the parents of crypto millionaire Veer Chetal for extortion. Faiq recruited six individuals from Florida to surveil the victims and participate in a home invasion robbery, during which they carjacked a Lamborghini Urus and assaulted the driver.

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