Bitwise Industries co-founders admitted to fraud charges, transferring $18.5M under false pretenses, causing the company's collapse.
Bitwise Industries co-founders, Irma Olguin Jr. and Jake Soberal, admitted to fraud charges in a federal court in Fresno, California. They defrauded investors and lenders by transferring $18.5 million into Bitwise's bank account under false pretenses, causing the company's collapse. The pair faces a potential 40-year prison sentence, $500,000 in fines, and up to $115 million in restitution.
July 17, 2024
5 Articles