FRESNO, Calif. (KMJ/KFSN) — The Bitwise co-founders pleaded guilty to two federal charges in court Wednesday morning.
Action News cameras were not allowed in the courtroom, but we were able to catch them on the way out.
A plea hearing was held for Jake Soberal and Irma Olguin Junior.
The founders of the failed tech company reached a deal with federal prosecutors.
The two each pleaded guilty to wire fraud.
In exchange, federal prosecutors say they will ask the judge to impose the lightest prison sentence allowed, but the final decision is up to the judge.
Soberal and Olguin cannot change their plea based on the judge’s sentence.
Sentencing is scheduled in November.
Listen to the report by KMJ’s Liz Kern.
