Saif Faiq, 24, has pleaded guilty to a federal conspiracy charge tied to a violent Bitcoin-related kidnapping plot and now faces up to 20 years in prison, according to the U.S. Department of Justice. Faiq entered his plea on June 9 in federal court in Hartford, Connecticut, admitting to one count of conspiracy to interfere with commerce by robbery. Sentencing is scheduled for August 28; he has remained in custody since his arrest on November 12, 2025.
Prosecutors said Faiq and his brother, Adam Iza, orchestrated a scheme in 2024 to abduct the parents of crypto millionaire Veer Chetal in Danbury, Connecticut, in an attempt to extort digital assets. Court documents reveal Faiq recruited six men from Florida, arranged their travel, and helped coordinate surveillance. The attackers deliberately rear-ended Sushil and Radhika Chetal’s Lamborghini Urus, forced them out of the SUV, assaulted them with a baseball bat, and briefly held them captive. The six men later pleaded guilty to kidnapping and carjacking offenses.
The victims were the parents of Veer Chetal, who prosecutors said participated in a major cryptocurrency theft of approximately 4,100 Bitcoin. Chetal had displayed his stolen wealth publicly, including at a Miami nightclub, drawing the attention of one of Faiq’s alleged co-conspirators. Chetal himself pleaded guilty to charges related to the Bitcoin theft in November 2025 and awaits sentencing. Adam Iza pleaded guilty on June 1 to the same conspiracy count.
This case adds to a growing list of violent crimes targeting crypto holders. Authorities in France are separately investigating an attempted kidnapping of the wife of The Sandbox co-founder Sebastien Borget, after a suspect posing as a delivery worker tried to gain entry to the couple’s home. The failed attempt led to the arrest of two suspects and the recovery of restraints and fake weapons.
