Future of Fresno's tech industry unclear after collapse of Bitwise Industries

FRESNO, Calif. (KFSN) -- It's been nearly six months since the co-founders of Bitwise Industries, Irma Olguin Jr. and Jake Soberal, furloughed their 900 employees nationwide.

Last week, the two appeared in federal court on charges of conspiring to commit wire fraud and taking over $100 million from individual and institutional investors.

Tuesday night, questions were raised about how the community will move forward.

"As we go back and look at questions, I'm more concerned about the students and the workers that have been left behind. That's why we've started the programs that we have because we don't want to see people stranded," said Dr. Carole Goldsmith, Chancellor of State Center Community College District.

Goldsmith sat on a panel, put together by KVPR and NPR's 1A program, to talk about what went wrong with Bitwise and what the community has done to help the employees who were blindsided by furlough notices.

While the future of tech in Fresno is yet to be written, the future of the buildings Bitwise once occupied appears to be certain.

Also on the panel was Will Dyck, real estate developer and former Bitwise board member.

"The buildings are there, we've attracted a number of new tenants that are coming into the buildings, and we're refilling them. They will be a fixture of downtown, they just won't have the Bitwise name on the door anymore," said Dyck.

There will be a bond status hearing for Olguin and Soberal on December 8th and a preliminary hearing on January 25th.

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