Failed Bitwise Industries founders reach plea agreement, court documents show

FRESNO, Calif. (KFSN) -- Jake Soberal and Irma Olguin Jr., the founders of Bitwise Industries, person reached a plea statement with the Department of Justice up of their adjacent tribunal date.

Documents amusement that the tribunal quality scheduled for July 18 has been changed to a plea proceeding connected July 17.

Terms of the statement person not yet been filed.

Soberal and Olguin were successful the nationalist spotlight aft Fresno-based Bitwise employees received announcement of contiguous furlough implicit the Memorial Day vacation play successful 2023. Then connected June 14, 2023, they were notified of layoffs.

Approximately 900 employees were near without jobs and took ineligible enactment against Bitwise aft checks started bouncing.

The mayor's bureau said Bitwise violated California's Worker Adjustment and Retraining, oregon WARN Act, by not giving 60-day announcement that a furlough was coming.

After the furloughs were announced, a suit filed by 1861 Acquisition successful the New York Supreme Court began to shed airy connected what whitethorn person led to the abrupt company-wide furloughs.

A colony was reached connected April 25 aft Bitwise promised to wage backmost the $6 cardinal it owed with astir $200,000 successful interest.

This is simply a processing story. Stay with Action News for updates.