Bitwise’s downfall in Fresno has left behind a big crater, having left hundreds without a job. Bitwise’s damage is far from only having affected Fresno, however. Investors throughout the United States, such as in Texas have experienced significant losses due to investing in Bitwise. Irma Olguin Jr. and Jake Soberal, the foundess of Bitwise, appeared in federal court last Thursday.
They are charged of conspiring to commit wire fraud and taking over $100 million from individual and institutional investors. The two entered not-guilty pleas and were released on conditions including giving up their passports, limited travel, and unspecified bonds that included the equity of Olguin’s mother’s house and Soberal’s home.
Source: ABC30 News