The founders of a failed California tech company were charged by federal authorities Thursday for their roles in a $100 million fraud scheme in which they bankrolled their lavish lifestyles and hefty salaries. Irma Olguin, Jr. and Jake Soberal, who headed the Fresno-based startup Bitwise Industries, surrendered to authorities on charges they conspired to commit wire fraud and took millions of dollars from various businesses and individuals, the US attorney for the Eastern District of California announced. The pair allegedly created a tangled web of lies and fabricated documents to create the illusion the private technology company was succeeding. They are accused of fabricating bank stat
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