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Bookmark or Share- Bitwise Founders Sentenced to 11 Years and 9 Years in Prison for $115 ...FRESNO, Calif. —Jake Soberal, 38, and Irma Olguin, Jr., 44, the founders and leaders of the failed Fresno-based start-up company, Bitwise Industries (“Bitwise”), were sentenced to 11 years and 9 years in prison, respectively, for defrauding people out of approximately $115,000,000, United States Attorney Phillip A. Talbert announced today. ...
- Bitwise founders sentenced to 11 years and 9 years in prison for $115 ...Bitwise Industries co-CEOs Jake Soberal and Irma Olguin, Jr. repeatedly lied to investors and lenders to keep their massive Ponzi scheme afloat, despite knowing that the business model would never generate positive revenue. The $115 million loss is significant, but the damage to the professional reputations of innocent parties and the loss of ...
- Former Bitwise founders sentenced to prison for fraud scheme | Fresno BeeJake Soberal, Irma Olguin to begin serving sentences March 18. Roger Bonakdar, a Fresno attorney who represented former Bitwise employees in a class-action lawsuit that resulted in a $20 million ...
- Bitwise Founders Sentenced to Prison for $115 Million FraudJake Soberal and Irma Olguin, Jr. the founders and leaders of failed start-up Bitwise Industries, were sentenced to 11 years and nine years in prison, respectively, for defrauding people out of approximately $115 million, the Justice Department announced Tuesday.. According to the DOJ, Olguin, Jr. and Soberal fabricated financial information for its board and for investor materials and ...
- Fresno startup founders get prison sentence for $115M fraud schemeJake Soberal, 38, was sentenced to 11 years in prison, and Irma Olguin Jr., 44, was sentenced to nine years, after pleading guilty in July to one count of conspiring to commit wire fraud and one ...
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