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If ex-Bitwise CEOs Behave in Prison, How Much Less Time Will They Serve?
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By David Taub, Senior Reporter
Published 3 weeks ago on
April 4, 2025

Jake Soberal (left) and Irma Olguin Jr. won't be serving as long as sentenced for wire fraud if they accumulate good behavior credits in federal prison. (GV Wire Composite/Paul Marshall)

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When are eleven and nine not what they seem?

It happens when computing government math.

Although former Bitwise Industries CEOs Jake Soberal and Irma Olguin Jr. started serving sentences of eleven and nine years, respectively, on March 18, that is not how long they are scheduled to serve. Last year, both pleaded guilty to wire fraud charges in a $115 million scam to defraud investors.

According to the Federal Bureau of Prisons inmate finder, Soberal is serving in USP Atwater, with a release date of July 31, 2034 — or about nine years, four months.

Olguin is serving in FCI Victorville Medium I, with a Nov. 15, 2032 release date — or about seven years, eight months.

Despite the names, both are minimum security faculties.

The BOP builds in good conduct time credits when calculating release dates, BOP spokesperson Scott Taylor said, speaking generally.

Federal law allows 54 days credit for each year. For Soberal, that is 594 days shaved off his sentence; for Olguin, it’s 486 days.

Taylor also said inmates can earn additional credits for completing certain programs and activities.

Perea Wins LGBT Endorsement

Annalisa Perea

Although she hasn’t officially announced running for state Assembly, Annalisa Perea won the endorsement of the California Legislative LGBTQ Caucus.

Perea filed paperwork to run for AD 31, which represents most of Fresno. She is the first openly gay member of the Fresno City Council, winning election in 2022.  Joaquin Arambula holds the seat, and plans to run for Fresno City Council in 2026.

The caucus said Perea (and three other legislative candidates they endorsed) ” possess the courage and strength to advance the rights and protections of the LGBTQ+ community in a time of unprecedented level of threat and violence directed at our community.”

Sandra Celedon, president/CEO of the nonprofit Building Healthy Communities, also filed to run. She has the financial support of Arambula and his family.

Perea said she plans to officially announce “in the coming weeks.”

Parra Pleads Not Guilty

Daniel Parra

Although he was not present, Fowler City Councilmember and Orange Cove City Manger Daniel Parra — through his attorney — pleaded not guilty to assault in a Tampa, Florida, courtroom on Monday.

A city councilmember from San Leandro in the Bay Area accused Parra of an unwanted kiss while the two attended a National League of Cities meeting in Tampa last November. Xouhoua Bowen made the accusation publicly at a city council meeting there last month.

Parra did not appear personally for his arraignment, a court spokesperson told Politics 101. A not guilty plea is entered automatically. His next court date is a status hearing on May 12.

He attended the Fowler City Council meeting this week, the city clerk said.

Parra has been on leave from his Orange Cove job since January. It is unclear if his leave has anything to do with the accusation.

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David Taub,
Senior Reporter
Curiosity drives David Taub. The award-winning journalist might be shy, but feels mighty with a recorder in his hand. He doesn't see it his job to "hold public officials accountable," but does see it to provide readers (and voters) the information needed to make intelligent choices. Taub has been honored with several writing awards from the California News Publishers Association. He's just happy to have his stories read. Joining GV Wire in 2016, Taub covers politics, government and elections, mainly in the Fresno/Clovis area. He also writes columns about local eateries (Appetite for Fresno), pro wrestling (Off the Bottom Rope), and media (Media Man). Prior to joining the online news source, Taub worked as a radio producer for KMJ and PowerTalk 96.7 in Fresno. He also worked as an assignment editor for KCOY-TV in Santa Maria, California, and KSEE-TV in Fresno. He has also worked behind the scenes for several sports broadcasts, including the NCAA basketball tournament, and the Super Bowl. When not spending time with his family, Taub loves to officially score Fresno Grizzlies games. Growing up in the San Francisco Bay Area, Taub is a die-hard Giants and 49ers fan. He graduated from the University of Michigan with dual degrees in communications and political science. Go Blue! You can contact David at 559-492-4037 or at Send an Email

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