Man sentenced to over 3 years in federal prison for defrauding Bitwise investors

FRESNO, Calif. (KFSN) -- A 31-year-old antheral is headed to situation aft admitting to defrauding investors with loans made to the failed Fresno-based startup institution Bitwise.

Andrew Adler was sentenced successful Federal tribunal this greeting successful downtown Fresno aft pleading blameworthy successful February to conspiracy to perpetrate ligament fraud.

Adler was ordered to walk conscionable implicit 3 years (41 months) successful prison.

He and his concern partner, David Hardcastle, were accused of luring investors and giving Bitwise astir $20 cardinal successful loans.

When Bitwise collapsed successful 2023, the investors mislaid astir each of their money.

Adler was ordered to crook himself successful by the extremity of September to service retired his clip successful Pennsylvania.