FRESNO, Calif. — It was Memorial Day weekend — 2023 — when Bitwise Industries shocked workers with an announcement: the startup was furloughing all 900 employees.
The startup's collapse gained national headlines as it emerged that the co-founders had defrauded investors and masked a bankruptcy scheme that left employees without paychecks, 401k matches, or jobs.
On July 18, for the first time since its collapse, the co-founders of Bitwise Industries, Irma Olguin Jr. and Jake Soberal, released a public statement apologizing for their actions. The statement came one day after they both pleaded guilty to two felony charges.
Anthony Haddad is a former Bitwise employee who now reports for local news outlet GV Wire. Last week, he wrote about his experience as a Bitwise employee and spoke about it with KVPR's Elizabeth Arakelian.
Listen to the interview in the player on this page.