FRESNO, Calif. (KMJ/KFSN) — The founders of Fresno’s failed Bitwise Industries will each plead guilty to wire fraud.
Jake Soberal and Irma Olguin Jr. reached a plea deal with federal prosecutors earlier this month, but the details are just now becoming public.
In documents filed with the court, prosecutors say Soberal and Olguin will plead guilty to two charges and pay up to $115 million in restitution.
In exchange for pleading guilty, 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.
