Episode 3: Behind the Bitwise meltdown: Truth and consequences

from Bitwise & Betrayal: Inside the fraud scandal that shook Fresno · host Tim Sheehan and Robert Rodriguez

In May 2023, 10 years after Jake Soberal and Irma Olguin Jr. founded Bitwise Industries in Fresno, California, the once promising company collapsed amid an abrupt financial meltdown. About 900 workers in California and the U.S. lost their jobs without warning, investors and lenders lost tens of millions of dollars, Bitwise filed for bankruptcy, and the co-founders were charged and ultimately convicted of fraud. In this episode, hear about the company’s demise and the continuing fallout. Learn more about your ad choices. Visit megaphone.fm/adchoices

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This episode was published on December 18, 2024.

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