6 months ago
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Tuesday, February 25, 2025 2:22PM
A 31-year-old antheral admitted helium defrauded investors with loans made to the failed Fresno-based startup institution -- Bitwise.
FRESNO, Calif. (KFSN) -- A 31-year-old antheral admitted helium defrauded investors with loans made to the failed Fresno-based startup institution -- Bitwise.
Andrew Adler pleaded blameworthy connected Monday to conspiracy to perpetrate ligament fraud.
He and his concern spouse are accused of luring investors and giving Bitwise astir $20 cardinal successful loans.
Court records accidental the 2 altered the archetypal indebtedness documents and forged the signature of Bitwise Co-CEO, Jake Soberal, to marque the loans look little risky to investors.
The partners are besides accused of investing successful different institution with involvement reserves meant to wage investors backmost if the borrower failed to repay the loan.
RELATED: Bitwise founders sentenced to walk years successful situation for ligament fraud crime
When Bitwise collapsed successful 2023, the investors mislaid astir each of their money.
Adler is acceptable to beryllium sentenced connected June 2.
He faces 20 years successful prison, positive a $250,000 fine.
His concern partner, David Hardcastle, is charged successful a abstracted indictment, and those charges stay pending.
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